Nifty-Intra Day Chart(13-Sep-2011):-
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1- Minor selling between 5020-5028
2- Minor buying between 4912-4936
3- Whole day trading between 4912-5028
Conclusions
All intraday positions are minor and closing is also with minor loss today. Crucial support range of 4948-5000 has been broken down but support also seen at yesterday support range(4913-4928). All trends are down and sustaining below 4912 will mean sharp fall and high possibility of 4720 retesting but freh selling rerequired for sustaining below 4912.
As both support and resistance between today trading range therefore Nifty will first trade between today range tomorrow and prepare for next moves. Follow up buying/selling will give indication that Nifty is moving up or down and sustaining beyond today range(4912-5028) will be confirmations.