Nifty-Intra Day Chart(06-Sep-2011):-
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1- Consolidation between 4945-4966
2- Mixed Patterns between 5054-5072
3- Whole day trading between 4945-5072
Conclusions
Pull Back rally started on 26-08-2011 from 4720 and its correction begun from 5114. Short term correction remained continued for 4 days and Nifty crossed all the resistances of the rally as well as closed at the top of rally today.
Although Indian markets out performed Global markets in last 3 sessions and continuation of rally also expected in the coming sessions but sustaining above 5072 will be watched firstly for next up moves confirmations because mixed patterns between 5054-5072 in last 50 minutes today.