Nifty-Intra Day Chart(02-dec-2011):-
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1- First 3 hours lower levels consolidation confirmation and support at lower levels between 4920-4958
2- Mixed patterns between 5005-5035.
3- Divergence in all the indicators during last 2 hours
4- closing at the top of upper band in Bollinger Band.
5- Whole day trading between 4920-5062
Conclusions from intra day chart analysis
Strong rally after lower levels consolidations but in the lst 2 hours mixed trading patterns and divergence in indicators therefore minor intraday correction is possible in the beginning of weak. Expected that Nifty will not slip below support range 4920-4958 in mentioned correction and finally rally will be seen after consolidation between last Friday range.