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Nifty-Micro Analysis of Intra Day Chart For 22-07-2011


Nifty-Intra Day Chart(21-Jul-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Range bound trading between 5532.70-5578.90
2- Selling between- 5558-5573
3- Condolidation between- 5535-5553

Conclusions

Whole day range bound trading with higher levels selling and lower levels consolidations indications. Nifty has to struggle for up moves above 5580 and fast steep fall will be seen after sustaining below 5530.

Mentioned range(5530-5580) break out will be next trend strong indication and should be watched first for next moves confirmation tomorrow.
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