1-"It is very much clear that Indian markets are not prepared for immediate decisive moves after Budget"
2-"next trend confirmation range of post Budget big move is 5235-5520"
3-"Up moves will be slow because for every rise consolidation requires at every stage"
As Indian markets were not prepared for any side decisive moves therefore in this process traded whole day within mentioned range and lost all intraday gains, yesterday candle was 'Bearish Gravestone Doji'. Same views for today and next move preperation process will remain continued within mentioned range.
Although Indian markets lost whole intraday gains and 'Bearish Gravestone Doji' yesterday but intraday patterns are suggesting consolidation on Budget day and it is up moves signal. Sustaining above 5520 will be strong upmove confirmation.
Nifty will trade first within 5350-5400 after positive opening today, break out and sustaining beyond will be next immediate move confirmation. As consolidation patterns yesterday and repeation today will mean begining of upmove confirmation and it is expected also.
Finally moves above 5400 and positive closing expected today