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Nifty Slipping below 6130

Technical Analysis and Market Outlook
(09-01-2014)
Nifty-Intra Day Chart (08-Jan-2014):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Good selling between 6181-6191
2- Minor support between 6165-6172
3- Whole day actual trading between 6161-6191

Conclusions from intra day chart analysis 

30 Points range bound market with higher levels good selling and minor support therefore high possibility of slipping below the lowest of today. As selling was seen in previous 2 sessions and follow up good selling also seen today therefore now expected that Nifty will slip below 6130 and once sustaining below 6130 will mean mean correction continuation towards 200-Day EMA(today at 5959). 
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