Following line was told in Mid-session Outlook today
"if nifty consolidate within this range then consolidation and up move confirmation point will be crossing 5762."
Nifty moved up could not cross 5762 and again retraced and trading within 5695-5735. Nifty moved up after some base formation today but could not sustain 2 times at higher levels as well therefore profit booking possibility between 5735-5760 can not be ruled out today.Intra day technical positions of today are as follows;-
1- Base formation between- 5695-5735
2- Profit Booking between 5735-5760
Correction is on and its completion confirmation not received yet. confirmation points are as follows:-
1- Crossing 5762 will mean correction is complete.
2- Dipping below 5695 will mean more down to test 5651/5561
Mixed patterns between 5695-5762 and its break out will be next moves confirmation. Let market take positions within this range and its conclusions will be drawn from micro Analysis of Intra Day Chart formations.
"if nifty consolidate within this range then consolidation and up move confirmation point will be crossing 5762."
Nifty moved up could not cross 5762 and again retraced and trading within 5695-5735. Nifty moved up after some base formation today but could not sustain 2 times at higher levels as well therefore profit booking possibility between 5735-5760 can not be ruled out today.Intra day technical positions of today are as follows;-
1- Base formation between- 5695-5735
2- Profit Booking between 5735-5760
Correction is on and its completion confirmation not received yet. confirmation points are as follows:-
1- Crossing 5762 will mean correction is complete.
2- Dipping below 5695 will mean more down to test 5651/5561
Mixed patterns between 5695-5762 and its break out will be next moves confirmation. Let market take positions within this range and its conclusions will be drawn from micro Analysis of Intra Day Chart formations.