Nifty Road Map 23/08/11

Nifty Future chart August Series :

Nifty Mp9 Nifty Road Map 23/08/11

The post got delayed today. Hence posting a short summary from the post at Vtrender-2.

Back Ground :-

1) Huge gap between 5325 and 5233 which is a single print seller.

Chart Speak :

– poor highs
– failed auction at 4816
– structure not strong with a dpoc at the bottom indicating short covering rather than genuine buying.