It was told in weekly for last 40 minutes intraday trading of previous thursday:-
1- "last 40 minutes trading within 5940-5956 with short covering(selling) indications"
2- "Watch only sustaining above or below 5940-5956"
Nifty opened and trading weak below 5940 after negative news from Asian markets and specially from Shanghai markets. As today weakness is news based therefore fresh selling patterns are must for sustaining below 5940. Although short covering(selling) indication seen in last 40 minutes of previous Thursday but big down moves can not be projected from only 40 minutes intraday moves and complete fresh intraday selling required today for sustaining below 5940 and that will be decided after minimum 3/4 hours trading today. Let market prepare then will be decided firstly from intraday patterns and finally from sustaining beyond mentioned range.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
