I told for crossing 5570 and Nifty crossed also but when I saw that up moves are not convincing then at time when Nifty was trading near day's higher levels then I expressed my doubts on today up moves in following words in 2 outlooks:-
1- I told in Mid-session Outlook;- "up move is lacking required force therefore sustaining above today highest(5592) will be watched for next moves confirmations"
2- I told in Mid-session Outlook-2;- "5570 is crossed but without required force and negative news of petroleum rates hike news also today therefore Nifty crossing and sustaining above today high(5592) will be rally confirmations"
As up move wthout required force therefore selling confirmation and clear resistance(5565-5590) today and supports at lower levels near 5500 are not much strong. Follow up selling today or tomorrow and move below 5500 will mean sharp down.
Range bound market between 5500-5590 and follow up buying/selling in the coming 4/5 trading hours will decide surviving of support at 5500 or not.
1- I told in Mid-session Outlook;- "up move is lacking required force therefore sustaining above today highest(5592) will be watched for next moves confirmations"
2- I told in Mid-session Outlook-2;- "5570 is crossed but without required force and negative news of petroleum rates hike news also today therefore Nifty crossing and sustaining above today high(5592) will be rally confirmations"
As up move wthout required force therefore selling confirmation and clear resistance(5565-5590) today and supports at lower levels near 5500 are not much strong. Follow up selling today or tomorrow and move below 5500 will mean sharp down.
Range bound market between 5500-5590 and follow up buying/selling in the coming 4/5 trading hours will decide surviving of support at 5500 or not.