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Down Moves after RBI Credit Policy

Technical Analysis and Market Outlook
(29-01-2013)

Nifty-Intra Day Chart (28-Jan-2013):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Selling between 6080-6086
2- Selling between 6076-6082 with lowr top Bearish pattern formation.
3- Support between 6062-6070
3- Whole day actual trading between 6062-6086  

Conclusions from intra day chart analysis 

Whole day 24 points narrow range trading with good selling at higher levels and lower levels supports also. Previous resistance was between 6068-6100 and follow up selling seen between this range today also and resistance becomes stronger therefore expected that Indian markets will move down tomorrow despite whatsoever RBI Credit Policy.

As lower levels supports also seen today therefore following range valid break out will be next moves confirmation and precautionary should also be watched tomorrow.

6062-6100
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