Indian markets are positive today and last 2 sessions outlooks are live proof of this fact that up moves possibility was told more than 10 times and down moves were never told.
Next and crucial resistance range is 5580-5604 and Nifty is trading just below it. Nifty has retraced from this range 5 times in last 26 sessions therefore view will remain cautious but it does'not mean that this time Nifty will again retrace from mentioned range.
Although Indian markets are moving up since opening but lacking force therefore Nifty require more consolidations for sustaining above today last 2 hours trading range(5550-5570) and next resistance range(5580-5604).
Nifty is not prepared for breaking out 5604 and will trade and prepare for next moves below 5580 some more time. As patterns are mixed therefore trading between 5550-5570 will the watched today and in the coming sessions for next moves confirmations.
Next and crucial resistance range is 5580-5604 and Nifty is trading just below it. Nifty has retraced from this range 5 times in last 26 sessions therefore view will remain cautious but it does'not mean that this time Nifty will again retrace from mentioned range.
Although Indian markets are moving up since opening but lacking force therefore Nifty require more consolidations for sustaining above today last 2 hours trading range(5550-5570) and next resistance range(5580-5604).
Nifty is not prepared for breaking out 5604 and will trade and prepare for next moves below 5580 some more time. As patterns are mixed therefore trading between 5550-5570 will the watched today and in the coming sessions for next moves confirmations.