Following lines were told in Pre-open outlook today:-
"Doji candle formation with partially mixed patterns yesterday therefore more consolidation is required within 5420-5520"
As told, same happened and Nifty is trading within mentioned range since opening today. Although Indian markets slipped from higher levels after opening but intraday charts are showing consolidation patterns. Firstly 5460 and then 5420 will be watched for consolidation confirmation. Market will take its own time and finally crossing of 5520 is also expected but 5420-5520 will also be kept in mind for next move confirmations.
"Doji candle formation with partially mixed patterns yesterday therefore more consolidation is required within 5420-5520"
As told, same happened and Nifty is trading within mentioned range since opening today. Although Indian markets slipped from higher levels after opening but intraday charts are showing consolidation patterns. Firstly 5460 and then 5420 will be watched for consolidation confirmation. Market will take its own time and finally crossing of 5520 is also expected but 5420-5520 will also be kept in mind for next move confirmations.