Market slipped from higher levels on expected therefore following lines were told in Pre-Open Outlook:-
1- Voltality and little profit booking at higher levels may be seen
2- Fresh long positions should be created after completion of intraday corrections
Sentiment was heated today morning therefore cooling down was consolidation requirement and it is being happened. Intraday charts not showing distribution formation despite Nifty intraday trading low formation. Fresh consolidation expected and its signals are being seen also. As market has to prepare to cross next resistance(6080-6120) therefore trading near its lower band and fresh up moves are expected after 1/2 sessions fresh consolidations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
