When US markets were more than 1.25% up then also consolidation requirement was told again and again for any up move. Although US markets closed more than 1% up but Asian market are flat to negative today morning. As sentiment is not strong today morning therefore only first trading range has been changed and Nifty will first trade between yesterday trading range first(5485-5520).As yesterday range is only 35 points range therefore next move confirmation range is 5465-5535
As higher levels selling(5505-5517) yesterday and strong resistance range(5522-5604) therefore fresh consolidation is required in the coming sessions for any decisive and sustained up move from here. Indian markets are not trending but range bound therefore next immediate moves will be decided according to intraday charts patterns formations only and follow up buying/selling between 5465-5535 and this range break out will give next move confirmation.
As higher levels selling(5505-5517) yesterday and strong resistance range(5522-5604) therefore fresh consolidation is required in the coming sessions for any decisive and sustained up move from here. Indian markets are not trending but range bound therefore next immediate moves will be decided according to intraday charts patterns formations only and follow up buying/selling between 5465-5535 and this range break out will give next move confirmation.