Very short term correction possibility predicted before opening today and that was seen today.
Following lines were told for indicting weakness of down moves in Mid-session Outlooks:-
1- Sufficient intra day selling patterns requires for any correction
2- Market slipped but without genuine selling patterns therefore today dip may be a part of condolisation also.
3- Intraday support and base formation seen between 5857-5870 today.
As I told for support and base formation and same happened, good recovery seen from lower levels. Bull rally is on and only such type of minor corrections are seen in Bull rallies.
Correction complrtion signals today and follow up buying tomorrow will mean fresh strong rallies in the coming sessions after completion of today correction.
Following lines were told for indicting weakness of down moves in Mid-session Outlooks:-
1- Sufficient intra day selling patterns requires for any correction
2- Market slipped but without genuine selling patterns therefore today dip may be a part of condolisation also.
3- Intraday support and base formation seen between 5857-5870 today.
As I told for support and base formation and same happened, good recovery seen from lower levels. Bull rally is on and only such type of minor corrections are seen in Bull rallies.
Correction complrtion signals today and follow up buying tomorrow will mean fresh strong rallies in the coming sessions after completion of today correction.