Daily Chart
Half Hourly Chart
A sideways market in an extremely narrow range forming an "Inside day" vividly shown on half hourly charts as an equilateral triangle.A breakout of this triangle and from yesterday's range 6024-5958 will set further direction.The uptrendline from 5721 shown on daily charts, has been broken. This increases the probability of breaking the inside day range on the downside.
I have redrawn the triangle shown in red dashed lines on daily charts. Resistance is at 6019.
The daily emas seem to be doing a good job of giving support around the 5950-5966 range.Other supports are at 5958-5940-5920. Resistance is at 5994-6006-6019-6024.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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