Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, January 15, 2014

Nifty Analysis

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.

 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.

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Happy Trading !!

Lakshmi Ramachandran

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