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Nifty-Micro Analysis of Intra Day Chart For 17-08-2011


Nifty-Intra Day Chart(16-Aug-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1Selling between 5080-5120
2- Whole day trading between 5016-5120

Conclusions

Good selling at higher levels and Nifty slipped below last Friday lows as well as closed below it also. Minor consolidation seen between 5020-5060 on 09-08-2011 and Nifty traded and closed within this range today,breaking down of this range will mean again sharp fall.

As good selling today therefore more slipping possibility can not be ruled out in the coming sessions.
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