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Nifty-Micro Analysis of Intra Day Chart For 16-08-2011


Nifty-Intra Day Chart(12-Aug-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intra day charts

1- Selling between- 5125-5170
2- Last 3 hours Mixed Patterns between- 5055-5090
3- Intraday Patterns are whole day selling.
4- Whole day trading between- 5055-5170.

Conclusions

Good Selling between 5125-5170 in Bullish sentiments and Whole day intraday patterns are suggesting selling formations therefore more down moves are expected in the next week. As last 3 hours little mixed Patterns between 5055-5090 therefore precautionally confirmation is required from break out of this range.
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