Although Indian markets were trading with good gains but doubts were shown in following words and trend confirmation range of 5600-5650 was given in Post-open Outlook today:-
Indian markets does not opened much strong
5600-5650 broken down and Nifty is trading below 5600 after intraday selling betweeen 5606-5636. As this selling is between resistance range therefore sharp fall seen. 5505-5577 is strong support range therefore until Nifty will not slip below 5506 till then view will not be bearish.
Market is showing range bound character between 5500-5650 and follow up selling seen between 5577-5606 today therefore more down moves are possible but 5500-5577 is strong support and Nifty will not easily slip below 5577.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
