Analysis for july 6

Strength: NS has closed above Week and Day 5EMA and above week Hema

Weakness : NS has closed below Day Hema and week (5641)and Day pivots (5635). It has closed below all Hour High ema of july 5th.

A Descending Triangle has developed in NS with breakout above 5640 and breakdown below 5612. The day trading range has narrowed and breakout is likely to lead Nifty to its 200 DMA 5745.
A breakdown and close below the DayLema of 5585 would lead NS to 50DMA at 5515.

The NF shows Symmetrical triangle pattern - Which can breakout on either side but NS shows Descending triangle pattern - which is Bearish

For more details about Triangles refer Link

http://www.investopedia.com/articles/technical/03/091003.asp#axzz1RGEQWOfn