Indian markets are dancing on volatile Global Cues. Dow's Futures was 287 points down and Indian markets slipped but as soon as Dow's Futures recovered to -210 points then Indian markets surged.
Nifty also slipped but could not sustain below yesterday low of 4966 and last 3 sessions low of 4929 is also not tested. I am again and again telling for global markets influence on Indian markets moves and today voltality is due to Global markets only.
Final conclusion from today markets that Indian markets could not test last 3 sessions low(4929) and lower levels supports are safe because lower levels consolidation also seen between 4945-4966 today.
Global cues led volatile markets and technical positions shift fast during such markets therefore next decisive moves will get confirmation through sustaining beyond crucial range of 4929-5064.