Today was volatile within a small range of 70 points.A lower high and lower low was formed for the second day in a row.
Half Hourly Chart
The half hourly chart gives a clearer picture .The last two days fall has formed a bullish flag and today's last half hour candle has given a breakout from this flag.This is very bullish and the Nifty is expected to resume the uptrend.Support was taken exactly at 6243 , the 23.6% retracement levels of rise from 5937 to 6338.
A cross of 6311-6338 is desired to get confirmation. Meanwhile trade light and long with a stop loss of 6200-6151.
Happy Trading !!