some interesting intraday observations(charts)...

nifty 15min intraday chart:

testing the 4561-4566 gap. fill the gap and bounce(preferred view) or fill and breakdown.

reliance 15min chart:

already tested/filled and then bounced off the gap and closed in green today unlike broader mkts. holding the support trendline too. this stock generally leads the mkt due to its weightage on nifty.

10th june 2009...

exactly what's said is happening, nifty moved up and got resisted near 4650 which it found a good technical resistance, then reacted and got supported on near term supports near 4400 to bounce back.

it was a very good tradeable opportunity for short term and intraday players, while uptrend remains intact for intermediate traders.

fiis again supporting the mkt with huge net cash buying on declines and the tgts remain the same as mentioned earlier. individual stocks and sectors are showing lot of action.

nifty will likely challenge the recent highs if today stays above 4572(falling short term tline resis) and 4587. mkt opening is expected to be positive.