 |
| Just click on chart for its enlarged view |
1- Selling between 6070-6082
2- Whole day actual trading between 6040-6082
Conclusions from intra day chart analysis
All trends are up and impulsive Wave-5 continuation but Indicators are overbought and suggesting for correction. Although complete selling patterns on daily charts are required for any deeper correction but Short Term correction is very much possible after any day higher levels intraday selling. As intraday selling patterns formations yesterday therefore minimum Short Term correction will be seen today.
Support were seen between 6024-6040 on 08-05-2013 and expected that Nifty will firstly trade within this range today. As higher levels selling yesterday therefore firstly sustaining beyond 6024 should be watched today for range bound correction between 6024-6083 or little deeper correction toward 5985.