Nifty-Intra Day Chart(16-Sep-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5100-5130
2- Whole day trading between 5070-5139
Conclusions
Good selling at higher levels between 5100-5130 and today selling is at lower levels of previous resistance range of 5120-5169 and 5120-5220. Today selling has strengthened previous resistance ranges and confirmed further down moves.
More down moves will be seen in the coming sessions and next support range(4969-5000) testing is possible.
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1- Selling between 5100-5130
2- Whole day trading between 5070-5139
Conclusions
Good selling at higher levels between 5100-5130 and today selling is at lower levels of previous resistance range of 5120-5169 and 5120-5220. Today selling has strengthened previous resistance ranges and confirmed further down moves.
More down moves will be seen in the coming sessions and next support range(4969-5000) testing is possible.