High possibility of sustaining below 6130
Technical Analysis and Market Outlook
(10-01-2014)
Nifty-Intra Day Chart Jan 08 & Jan 09,2014:- |
| Just click on chart for its enlarged view |
1- Good selling between 6181-6191 on 08-01-2014
2- Minor support between 6165-6172 on 08-01-2014
3- Slipping and trading below lowest of yesterday(6160.35)
4- Minor selling between 6176-6187 on 09-01-2014
5- Selling between 6165-6174 on 09-01-2014
6- Selling between 6173-6182 on 09-01-2014
7- Minor support between 6149-6157 on 09-01-2014
8- 2 Sessions actual trading between 6149-6191
Conclusions from 2 Sessions intra day chart analysis
Following conclusions were updated yesterday in Nifty Slipping below 6130:-
1- higher levels good selling and minor support
2- high possibility of slipping below the lowest of today
3- selling was seen in previous 2 sessions and follow up good selling also seen
4- Nifty will slip below 6130
5- sustaining below 6130 will mean mean correction continuation towards 200-Day EMA(today at 5959)
Although minor support at lower levels but follow up higher levels good selling today after previous 3 sessions selling therefore same view of slipping below 6130 as well as high possibility of sustaining below 6130 despite whatsoever INFY quarterly results tomorrow.