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Nifty-Micro Analysis of Intra Day Chart For 03-11-2011


Nifty-Intra Day Chart(02-Nov-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Firstly upmoves in rising channel without consolidation
2- 3 hours selling between 5377-5297
3- Whole day trading between 5229-5299

Conclusions

Up moves started without any consolidation and selling seen within 5377-5297. As today selling is just below previous resistances( 5295-5310) therefore more down moves and continuation of ongoing correction expected in the coming sessions.
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