Nifty-Intra Day Chart (22-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Almost 4 hours trading with mixed patterns between 6310-6330
2- Whole day actual trading between 6288-6349.
Although almost 4 hours trading with mixed patterns between 6310-6330 and break out of this range in last hour but confirmation is firstly required through sustaining above 6330 for any decisive up moves and it should be firstly watched tomorrow.
Indian markets are not trending but sideways for the last 25 sessions between 6130-6415 with following technical positions:-
1- 1st Resistance between 6324-6356
2- 2nd Resistance between 6360-6387
3- 1st Support between 6232-6266
4- 2nd Support between 6130-6186
Following trading ranges should be watched for:-
1- next trend 1st strong indication:- 6232-6356
2- next trend confirmations:- 6130-6387
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1- Almost 4 hours trading with mixed patterns between 6310-6330
2- Whole day actual trading between 6288-6349.
Conclusions from intra day chart analysis
Although almost 4 hours trading with mixed patterns between 6310-6330 and break out of this range in last hour but confirmation is firstly required through sustaining above 6330 for any decisive up moves and it should be firstly watched tomorrow.
Indian markets are not trending but sideways for the last 25 sessions between 6130-6415 with following technical positions:-
1- 1st Resistance between 6324-6356
2- 2nd Resistance between 6360-6387
3- 1st Support between 6232-6266
4- 2nd Support between 6130-6186
Following trading ranges should be watched for:-
1- next trend 1st strong indication:- 6232-6356
2- next trend confirmations:- 6130-6387