Nifty Intraday Technical Analysis for 23rd Sep 09

Nifty Intraday Analysis - 5 min:

Nifty continued its fall from yesterday and took support from 5000 level. Later on it bounced back with low volumes and formed a head and shoulder pattern. It gave a break down and reached the target immediately. Reversal at the break down at 4992 was good trade and gave almost 1% profit with in few mins.