Nifty-Intra Day Chart (06-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- More than 3 hours selling between 6196-6202
2- Triple bottom support between 6170-6180
3- Whole day actual trading between 6170-6202
Although closing after some recovery and lower levels supports but higher levels good selling also seen today therefore emergence of down moves possibilities also. As lower levels good supports above 6130 therefore complete selling patterns are required for decisive down moves below it.
As triple bottom support also seen today therefore view will not be immediately Bearish and Firstly follow up moves and valid break out of 6130-6202 should be watched tomorrow for next immediate moves confirmation.
Detailed analysis have already been updated yesterday in following Weekly Analysis topic yesterday:-
 |
| Just click on chart for its enlarged view |
1- More than 3 hours selling between 6196-6202
2- Triple bottom support between 6170-6180
3- Whole day actual trading between 6170-6202
Conclusions from intra day chart analysis
Although closing after some recovery and lower levels supports but higher levels good selling also seen today therefore emergence of down moves possibilities also. As lower levels good supports above 6130 therefore complete selling patterns are required for decisive down moves below it.
As triple bottom support also seen today therefore view will not be immediately Bearish and Firstly follow up moves and valid break out of 6130-6202 should be watched tomorrow for next immediate moves confirmation.
Detailed analysis have already been updated yesterday in following Weekly Analysis topic yesterday:-