Nifty-Intra Day Chart(08-Aug-2011):-
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1- Support between 5055-5067
2- Selling between 5160-5200
3- Whole day trading between 5055-5200
Conclusions
News based highly volatile market and Indian markets danced firstly on Asian falls then on European markets and US Futures voltality. Although initial support at lower levels but selling at higher levels also therefore any upmove will be considered only after sustaining above 5200.
All trends are down,Nifty closed well below 5171 on 08-08-2011 after higher levels intra day selling therefore more down moves may be seen also because almost confirmation of 13 months EOD chart structure breaking down.
Confirm Bear market but oversold also therefore bounce back or minor pull back rally may be seen from any lower point.