3 hours selling between 5500-5520 and Nifty slipped to 5472 and then recovered fast also.As sentiment is extremely depressed therefore people can not hold positions and panic selling starts. Today fast recovery is certainly a positive move and 5475-5485 has developed minor support also.
First of all watch 5500-5520 and its break out will be first indicaton. 5475-5560 crossing will be next sustained move confirmation. For any up move Nifty require complete consolidation between 5525-5560 and it will take its own time. 5475-5485 is minor support and will be easily cleared if fresh selling develops today.
First of all watch 5500-5520 and its break out will be first indicaton. 5475-5560 crossing will be next sustained move confirmation. For any up move Nifty require complete consolidation between 5525-5560 and it will take its own time. 5475-5485 is minor support and will be easily cleared if fresh selling develops today.