Following line was told in Nifty-Micro Analysis of Intra Day Chart For 08-11-2011
Nifty will firstly trade between last Friday range( 5257-5323)
Nifty is trading between 5252-5304 for the last 5 hours after slipping from higher levels and forming new intraday lows. Intraday supports at lower levels and selling at highet levels also in last 2 sessions range bound markets within 5252-5323 and Nifty will trade between this range to prepare for next moves.
Expected that Nifty will trade between 5252-5323 some more time and sustaining beyond this range will be next decisive trend confirmation.