Indian markets completely ignored Global cues today and firstly traded positive. Today market will reply this question that 5 sessions before started rally is surviving or not. As yesterday intra day patterns did not suggesting selling despite 1% down market and today today outperforming global markets are suggesting to watch last 5 seesions support range(4798-4850) and its survival will decide that:-
1- Deep down below 4798 or
2- Continuation of rally after formation of higher(or double) bottom above 4850.
Hopes of Pull Back Rally survival are completely alive after watching today opening and and first 25 minutes trading.
1- Deep down below 4798 or
2- Continuation of rally after formation of higher(or double) bottom above 4850.
Hopes of Pull Back Rally survival are completely alive after watching today opening and and first 25 minutes trading.