Nifty-Intra Day Chart (16-May-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6176-6186
2- Buying between 6156-6162
3- Whole day actual trading between 6156-6186
Although whole day narrow range trading in Green with higher levels selling and lower levels supports today therefore sustaining beyond today actual trading range(6156-6186) will be next very short term term trend confirmation but down moves possibilities are more because good selling seen at higher levels today.
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1- Selling between 6176-6186
2- Buying between 6156-6162
3- Whole day actual trading between 6156-6186
Conclusions from intra day chart analysis
Although whole day narrow range trading in Green with higher levels selling and lower levels supports today therefore sustaining beyond today actual trading range(6156-6186) will be next very short term term trend confirmation but down moves possibilities are more because good selling seen at higher levels today.