11.01.11

DAILY CHART

60 MIN CHART

Nifty moves were volatile today.This type of movement is referred as Energy Coil by Tim Morge,a leading expert in median line method.The movement concentrated around the median line as if buyers and sellers both indecisive and pulling each other. Price did not move above the median line for a full 60 min bar.

The expectation is this move can continue in this manner for a day or two before the final selling climax.

Daily chart can see that todays high has tested the orange median line sliding parallel in the morning session and continued lower and closed negatively confirming lower levels are expected.

Tommorrow's price action is crucial for clues of the end of this swing .