Nifty-Micro Analysis of Intra Day Chart For 23-01-2012
Nifty-Intra Day Chart(20-Jan-2011):-
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1- Selling between 5035-5053
2- Huge volatility in last 75 minutes
3- Whole day trading between 5004-5064
Conclusions from intra day chart analysis
Intraday selling patterns between 5035-5053 therefore until Nifty will not sustain above 5053 till then any up move will not be considered. Sentiment was mixed and highly confusing due to Ril Buy Back news and below expectation results after market therefore huge volatility seen in last 75 minutes. As technical positions reverses sharply during such volatility and new intraday highs as well lows were also formed during this short periood therefore sustaining beyond today intraday range(5004-5064) will be next moves confirmations.
As good intraday selling therefore possibility of slipping below 5004 is also alive but huge volatility therefore firstly sustaining beyond today selling range(5035-5053) should be watched for confirmations.