Nifty-Intra Day Chart(30-Sep-2011):-
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1- Selling between 5000-5025
2- Last one and half hour support between 4925-4945
3- Down moves in falling channel
4- Whole day trading between 4924-5025
Conclusions
Down moves in falling channel after higher levels selling between 5000-5025 but last one and half hour support also between 4925-4945 therefore expected that Nifty will open and firstly trade between 4906-5034 on Monday. As today intraday patterns are showing consolidation formations and last one and half hour support between 4925-4945 also therefore positive markets hopes are alive in Indian markets.
Although US Futures are more than .75% down and European markets are also 15 to 2.5% down at this moment but Indian markets intraday patterns of today are showing consolidation patterns therefore up moves hopes are alive for next Monday.