Only next resistance range(5120-5220) testing possibility was told in all the outlooks which were updated for today market and Nifty hovered around 5120 in first two hours today. It was also told again and again that 5120-5169 is next resistance and Nifty slipped below 5120 sharply after first 2 hours trading above it.
Completely news(strong global markets,petroleum rates hike and RBI Credit policy) based market today and technical positions reverses sharply in such markets also. Finally sustaining beyond 5120 will be next moves strong indication and will decide next trend also therefore this level should be watched first for next moves confirmation.
Volatile moves may be seen after credit policy announcement therefore cautious approach is required and sustaing beyond 5095-5130 will be next moves confirmation after credit policy announcement at 12:00 noon today..
Completely news(strong global markets,petroleum rates hike and RBI Credit policy) based market today and technical positions reverses sharply in such markets also. Finally sustaining beyond 5120 will be next moves strong indication and will decide next trend also therefore this level should be watched first for next moves confirmation.
Volatile moves may be seen after credit policy announcement therefore cautious approach is required and sustaing beyond 5095-5130 will be next moves confirmation after credit policy announcement at 12:00 noon today..