Dow futures is trading 70 points up today morning therefore sentiment is good and all the Asian markets are trading positive today morning,expected that Nifty will open positive and firstly hover around 5500. It has already been proved in following topic that 5500-5605 is strong resistance range and Indian markets require complete consolidations to cross it.
Why range of 5500-5605 is Next Trend Deciding?
Expected that Nifty will first trade between yesterday range(5458-5509) and break out of this range will give confirmation to next moves. Sustaining above 5509 today will give confirmation to yesterday consolidation and up moves expectations will turn higher after continuous consolidation between 5500-5605.
Why range of 5500-5605 is Next Trend Deciding?
Expected that Nifty will first trade between yesterday range(5458-5509) and break out of this range will give confirmation to next moves. Sustaining above 5509 today will give confirmation to yesterday consolidation and up moves expectations will turn higher after continuous consolidation between 5500-5605.