Nifty-Intra Day Chart (16-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling patterns formation between 6328-6346
2- Support between 6300-6312
3- Selling patterns formation between 6324-6332
4- Whole day actual trading between 6300-6346
Although some supports at lower levels but higher levels selling also seen today therefore very short term correction is expected in the coming sessions because:-
1- selling below 6325 on 14-01-2014
2- Today follow up selling within previous resistances between 6260-6358
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1- Selling patterns formation between 6328-6346
2- Support between 6300-6312
3- Selling patterns formation between 6324-6332
4- Whole day actual trading between 6300-6346
Conclusions from intra day chart analysis
Although some supports at lower levels but higher levels selling also seen today therefore very short term correction is expected in the coming sessions because:-
1- selling below 6325 on 14-01-2014
2- Today follow up selling within previous resistances between 6260-6358