Nifty-Intra Day Chart(19-Jan-2011):
Technical Patterns and Formations in today intraday charts
1- Support between 4995-5005
2- Mixed Patterns between 5010-5023
3- Whole day trading between 4995-5023
Conclusions from intra day chart analysis
Gap up opening after strong global cues and intraday support at lower levels are showing rally continuation and until Nifty will not slip below 4995 till then any down move will not be considered because intraday consolidation and support above it.
As last more than one hour mixed intraday patterns between 5010-5023 therefore consolidation is required to sustain above it as well testing of next resistance range(5070-5098).