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Nifty-Micro Analysis of Intra Day Chart For 29-09-2011



Nifty-Intra Day Chart(28-Sep-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intra day charts

1- Selling between 4963-4978
2- Selling between 4952-4965
3- Support between 4918-4938
4- Whole day trading between 4918-78.

Conclusions

Following line was told in Pre-Closing Outlook yesterday:-

"mixed signals between 4955-4980 in last 2 hours"

Although Nifty opened at 5006.05 today but slipped to 4982 in first second and could not sustained within last 2 hours range(4955-4980) of  yesterday therefore finally this range has proved a selling range.

Although lower levels support but higher levels good selling today also therefore expected that more weakness will be seen in the coming sessions.

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