Nifty-Intra Day Chart (25-Jul-2012):-
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1- Support between 5077-5095
2- Last more than 3 hours trading between 5098-5119
3- Whole day trading between 5077-5121
Conclusions from intra day chart analysis
Confirm intraday support between 5077-5095 but last more than 3 hours trading with intraday mixed patterns therefore Indian markets are not prepared for any side decisive moves and will firstly trade and prepare for next moves between 5077-5144 as well as sustaining beyond this range will be next moves confirmations.
As huge selling in the the beginning of July and 16 sessions range broken down therefore until complete consolidation will not happen till then any decisive up move will not be considered and bearish views are still maintained which were expressed in following topic on 24-07-2012:-
Huge Island Reversal Pattern & Correction