Indian markets closed near the lows of the day yesterday but intraday charts did not suggested pure selling but buying signals were also seen therefore following lines were told in all the outlooks posted for today:-
1- Mixed Patterns between 5455-5490
2- Nifty will first trade within or near about 5455-5490 for next moves preparations.
All the Global markets are in Red and sentiment was deep depressed but Indian markets opening is certainly strong. If Nifty sustains at higher levels and close above 5500 today then it will be first indication of yesterday bottom formation yesterday and confirmation will be minimum crossing next resistance range(5525-5560).
Today 1% up is Pull Back Rally and strong move also. Next 2/3 hours intraday charts formations and sustaining beyond 5500 will give next moves first indication.
1- Mixed Patterns between 5455-5490
2- Nifty will first trade within or near about 5455-5490 for next moves preparations.
All the Global markets are in Red and sentiment was deep depressed but Indian markets opening is certainly strong. If Nifty sustains at higher levels and close above 5500 today then it will be first indication of yesterday bottom formation yesterday and confirmation will be minimum crossing next resistance range(5525-5560).
Today 1% up is Pull Back Rally and strong move also. Next 2/3 hours intraday charts formations and sustaining beyond 5500 will give next moves first indication.