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Nifty-Micro Analysis of Intra Day Chart For 24-10-2011


Nifty-Intra Day Chart(21-Oct-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Selling between 5102-5120
2- Selling between 5088-5098
3- Whole day trading between 5039-5120

Conclusions

Good selling at higher levels therefore more down moves are expected in the the coming sessions and Nifty may slip below 5000 also in next week. Next supports are as follows:-

1- 5012-5035(Strong support)
2- 4970-4983(Weak support)

Good selling on 21-10-2011 and high possibility of slipping below 5000. Sustaining below 4970 will mean sharp fall.
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