NIFTY Daily Chart 30 Dec 2013
Though Nifty opened higher above 6340, but quickly rejected the high and fell back into previous day's trading range. Price took support near 6272 (50% Fibonacci retracement level for past swing) and closed near 6291. Nifty has formed a bearish engulfing on daily chart. But price is still in the rising wedge pattern.
Volume is rising and above previous day's volume, but still very less as compared to average daily volume. On upside 6330-6345 has formed a zone of resistance. Lets see where market is heading tomorrow.
I exited the long position in the morning. Currently no position.
Regards
Taiki