Emergence of Corrective Wave-C beginning Possibility

Technical Analysis and Market Outlook
(23-07-2013)

Nifty-Intra Day Chart (22-Jul-2013):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6048-6064 
2- Whole day actual trading between 6018-6064 

Conclusions from intra day chart analysis 

Following resistance ranges were updated on 15-07-2013 in Technical Analysis and Market Outlook(16-07-2013):- 

1- 6040-6061
2- 6072-6130(Strong resistance range)

Nifty hovered around above mentioned 1st resistance range in last 2 sessions and traded most time between 6018-6064 with follow up selling between following ranges:-

1- 6049-6062(19-07-2013)
2- 6048-6064(22-07-2013)

1st resistance range strengthened after follow up selling in last 2 sessions and emergence of corrective Wave-C beginning possibility as well as decisive down moves are expected in the coming sessions.