 |
| Just click on chart for its enlarged view |
1- Almost 6 hours sideways trading between 6566-6591
2- Whole day actual trading between 6511-6591
Conclusions from intra day chart analysis
As all the Asian markets were in Green and some markets were more than 1% up therefore firstly positive opening and after that almost 6 hours sideways trading between 6566-6591. Last 11 sessions between 6433-6574 and Nifty hovered around its highest level(6574) but not given break out confirmation of 11 sessions range. As today up moves were Bullish sentiment led due to strong Asian markets therefore break out confirmation is must through sustaining above 6574 because fresh selling/short covering possibility can not be ruled out on the back of boosted sentiments.
Firstly sustaining beyond 6566-6591 should be watched tomorrow for:-
1- Strong rally above 6591
2- Sideways market between 6433-6591 below 6566.