4 hours intraday genuine selling patterns within 5538-5559 today and after that range broken down as well as breaking of 5485 is confirmation of Bearish market. Following line was told in Mid-session Outlook-3 today,as applicale now also therefore being repeated.
Nifty is down in last 5 minutes.Now bear market confirmation and more down moves are possible.
As told immediately after begining of down moves,same is seen and sharp down moves were seen today.
As selling at each step therefore market require full consolidation for any rally and until that will not haappen till then any up move will not be considered. Down moves are on and next strong support is at 5177..
Nifty is down in last 5 minutes.Now bear market confirmation and more down moves are possible.
As told immediately after begining of down moves,same is seen and sharp down moves were seen today.
As selling at each step therefore market require full consolidation for any rally and until that will not haappen till then any up move will not be considered. Down moves are on and next strong support is at 5177..