Nifty-Micro Analysis of Intra Day Chart For 12-08-2011

Nifty-Intra Day Chart(11-Aug-2011):-

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Technical Patterns and Formations in today intra day charts

1- Buying between 5131-5146
2- Selling between 5162-5183
3- Whole day trading between 5130-5183

Conclusions

Following line was told in today Either Uptrend Survival at 5171 or Repetition of 2008:-

Yesterday trading range(5125-5185) is trend decider

&

Today - High and Low are 5184.95-5121.00
Today achual trading range is- 5130-5183

Nifty traded yesterday between 5125-5185 with following trading positions:-

1- Good selling between 5160-5185
2- Buying between 5125-5150

Nifty-Intra Day Chart(10-Aug-2011):-

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Conclusions(From last 2 sessions Intra day charts)

1- Buying between 5125-5150
2- Selling between 5160-5185


Clear selling at higher levels and buying at lower levels in 2 previous sessions therefore 2 previous sessions trading range(5125-5185) break out will give next big moves confirmations.


It will be safer and the best to get next moves indication and confirmation from breaking out and sustaining beyond mentioned range(5125-5185)