Nifty-Intra Day Chart (21-Feb-2013):-
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1- Selling between 5890-5915
2- Last 3 hours continuous down moves.
3- Whole day actual trading between 5845-5915
Conclusions from intra day chart analysis
As all the Global Markets were weak today therefore firstly 3 hours narrow range selling and after that continuous down moves and closing near lowest levels and just below immediate support(5854). 59 Sessions trading between 5823-6111 with most Bearish Head and Shoulders pattern formation and valid breaking down of its neckline(5823) will mean fast down moves towards 5548 therefore sustaining beyond 5823 should be firstly watched in the coming sessions.
If sentiment does not remain boiling due any news flow then Nifty will firstly trade and prepare for Post Budget moves between 5823-5890