Markets are tend to react on news in very short term and in intraday. As sentiment was heated due to Obama visit,investments expectations after Coal India refunds,Global markets strong recovery therefore positive moves were seen yesterday despite selling patterns within 6080-6137 on Monday and Tuesday. Although Nifty traded whole day within 6150-6180 yesterday but as per technical theories 3 days sustaing is must for any trend confirmations and it will be decided according to sustaining above 6137 for next move confirmations.
Intraday charts of Nifty and many other pivotals are indicating selling patterns within 6150-6180 yesterday therefore down moves are expected. Last 3 days intraday charts are suggesting selling formatins and markets could not loose grounds because sentiment was strong due strong global markets,positive news flows and good news expectations.
As selling patterns therefore View is same and down moves have been delayed only due to positive news flows. No change and expected that Nifty will not sustain above 6180 and will slip below 6080 in the coming sessios.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
