Nifty-Intra Day Chart (13-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Almost 6 hours trading between 6232-6256
3- Whole day actual trading between 6190-6288
Although selling in previous week but strong recovery from lower levels seen immediately after opening and almost 6 hours 24 points range bound trading between 6232-6256 and its break out in last half hour seen today. As today up moves were on the expectations of rates reduction by RBI due to expected reduction in inflation today therefore sustaining beyond today most time trading range(6232-6256) should be firstly watched tomorrow for confirmations
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1- Almost 6 hours trading between 6232-6256
3- Whole day actual trading between 6190-6288
Conclusions from intra day chart analysis
Although selling in previous week but strong recovery from lower levels seen immediately after opening and almost 6 hours 24 points range bound trading between 6232-6256 and its break out in last half hour seen today. As today up moves were on the expectations of rates reduction by RBI due to expected reduction in inflation today therefore sustaining beyond today most time trading range(6232-6256) should be firstly watched tomorrow for confirmations