Half Hourly Chart
Indecision shown with a doji in an extremely small range.A higher high and higher low was however established to keep the upmove intact. The gap up area between 6032-6084 is now strong support.The 5932-5966 area too is very strong support. Till this is not violated and till the strong resistance of 6151 latest peak and high of the rally 6284 is decisively scaled, Nifty will move sideways with a slightly upward bias.
Half hourly charts show a megaphone formation which is bearish. A Megaphone Top also known as a Broadening Top is considered a bearish signal, indicating that the current uptrend may reverse to form a new downtrend.Trade long but have light positions.
Resistance is at 6138-6151-6284. Support is at 6094-6062-6037.
Happy Trading !!