Nifty-Micro Analysis of Intra Day Chart For 27-01-2012
Nifty-Intra Day Chart(25-Jan-2012):-
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1- Support between 5130-5140
2- Intraday mixed patterns with clear selling indications between 5150-5174 in last 3 hours.
3- Whole day trading between 5130-5174
Conclusions from intra day chart analysis
Whole day sideways trading between 5130-5174 with lower levels support between 5130-5140 and last 3 hours volatile market with intraday mixed intraday patterns but clear selling indications also seen between 5130-5174 today.
As already over bought indicators and intraday selling indications also today therefore very short term correction possibility can not be ruled out for cooling down of heated indicators.
Nifty traded with mixed intraday patterns between 4120-4140 on 24-01-2012 and today again mixed patterns(5130-5174) with higher levels selling indications therefore firstly trading between 5120-5174 and then slipping below 5120 may be seen next Friday. Running Bullish market and deeper correction will get confirmation after follow up selling and sustaining below 5120 only.