Nifty-Micro Analysis of Intra Day Chart(04-Aug-2011)
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1- Selling between- 5390-5432
2- Selling between- 5348-5367
3- Whole day selling
Conclusions
All the symptoms of Bear market and last hope is strong support range of 5253-5343 in which Nifty is traded in the the last half hous. Selling between mentioned range will mean breaking down risk of last 3 months range lowest.
Complete higher level selling today and crashing US and European markets also today. Global sentiment is completely dampened and US markets are trading more than 2.5% down,such closing today will mean steep fall in Asian markets tomorrow and Indian markets will also not be saved.
Firstly US markets closing today and after that survival of crucial support range of 5253-5343 should be firstly watched tomorrow because no strong support below it and next supports are near 5178 and its testing will mean breaking down of 52 week lowest.