Daily Chart
Half Hourly Chart
Another Inside day pattern within the sideways move
indicating indecision.The close was above
the
50 Ema ,7sma and 20ema.Break and close above 6288 is required to resume the
upmove from 6140.The broad range remains at 6130-6415 which needs to be
broken to end the stalemate.
6306 will be a strong resistance area with a confluence of fibo resistance.
6306 will be a strong resistance area with a confluence of fibo resistance.
Half hourly charts shows a descending
triangle which should break down as per it's characteristic.Breaking
upwards will be bullish.Resistance from this triangle is at 6328-6325
intraday.The 6140-6225 range break target is 6299.Watch this 6299-6325
level to see if Nifty weakens or strengthens here.
These are excerpts from the Daily analysis sent to subscribers.
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Lakshmi Ramachandran
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