Nifty-Intra Day Chart(21-Nov-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 4850-4868
2- Sharp fall.
3- Whole day trading between 4767-5869
Conclusions from intra day chart analysis
All trends are down and market tumbled after slipping of US Futures and crashing other global markets. Nifty tested 5th time last support range(4745-4800) of 61 sessions today and sustaining beyond this range should be watched in the coming sessions. Global cues are highly uncertain and markets are extremely volatile therefore sustaining beyond of crucial ranges will be next moves confirmation only should be firstly watched 4745-4800.
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1- Selling between 4850-4868
2- Sharp fall.
3- Whole day trading between 4767-5869
Conclusions from intra day chart analysis
All trends are down and market tumbled after slipping of US Futures and crashing other global markets. Nifty tested 5th time last support range(4745-4800) of 61 sessions today and sustaining beyond this range should be watched in the coming sessions. Global cues are highly uncertain and markets are extremely volatile therefore sustaining beyond of crucial ranges will be next moves confirmation only should be firstly watched 4745-4800.