Strong Asian markets triggered break out(5950-5985) and Nifty traded most of the time and closed above it yesterday but intraday patterns are not suggesting consolidations but distribution signals seen in last 2 sessions therefore until crucial resistance(6015) will not be broken out and Nifty will not sustain above it till then rally will not get confirmation and yesterday upmove will be considered on the back of strong global cues only. As very short term moves remain news generated sentiments also therefore mentioned confirmation is required because yesterday up move are not supported by intraday consolidation patterns.
All the global markets closed with good gains yesterday and US markets are also trading 1/2% up at this moment therefore bullish sentiment is maintained and Nifty will hover around 6000 today in the begining. 5985-6015 is next move confirmation range. Nifty above 6015 will mean fresh rally after correction completion and below 5985 will mean maintaining of range bound markets.
Let market open then will be informed accordingly as was done in Post-open outlook within first half hour yesterday.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
