As genuine selling patterns between 4898-4960 yesterday therefore weak market was told in all the outlooks. Indian markets completely ignored strong global cues and trading in Red as well as Nifty was 50 points down also at one time.
Following technical positions of last 4 sessions was updated in Pre-open Outlook today and Nifty traded most time today between that zone where no buying or selling told(4850-4898):-
1- Selling between 4898-4960
2- Buying between 4798-4850
Higher levels selling and lower levels buying is well proved and Nifty will prepare for next moves between today range of at this moment today(4839-4915).Just watch folowing ranges dfor deciding next moves:-
1- For next moves first indication 4839-4915
2- For survival or termination of Pull Back rally 4798-4960.
Today and coming sessions intraday charts formation within this range will decide that previous week started rally will survive or not. As Indian markets could cot sustained at higher levels and slipped sharply threfore down moves possibilities turned higher and confirmation will be dipping below 4898.
Following technical positions of last 4 sessions was updated in Pre-open Outlook today and Nifty traded most time today between that zone where no buying or selling told(4850-4898):-
1- Selling between 4898-4960
2- Buying between 4798-4850
Higher levels selling and lower levels buying is well proved and Nifty will prepare for next moves between today range of at this moment today(4839-4915).Just watch folowing ranges dfor deciding next moves:-
1- For next moves first indication 4839-4915
2- For survival or termination of Pull Back rally 4798-4960.
Today and coming sessions intraday charts formation within this range will decide that previous week started rally will survive or not. As Indian markets could cot sustained at higher levels and slipped sharply threfore down moves possibilities turned higher and confirmation will be dipping below 4898.