When all the Asian markets and Dow's Futures was slipping then importance of 4825-4850 and Indian markets strength was told in following lines in Post-open Outlook today:-
As Nifty consolidated between 4825-4850 yesterday therefore trading between this range despite most depressing Global markets and it is a strong signal of strength in Indian markets today
Nifty traded most of the time between or above mentioned range(4825-4850). As consolidation between this range therefore follow up moves and sustaining beyond this range will be crucial in today like most depressing sentiments.
Although Indian markets are showing strength today but sustaining above 4850 will be watched first and sustaining above will be confirmation of base formation between 4825-4850 and then sharp Pull back rally will be seen.
As Nifty consolidated between 4825-4850 yesterday therefore trading between this range despite most depressing Global markets and it is a strong signal of strength in Indian markets today
Nifty traded most of the time between or above mentioned range(4825-4850). As consolidation between this range therefore follow up moves and sustaining beyond this range will be crucial in today like most depressing sentiments.
Although Indian markets are showing strength today but sustaining above 4850 will be watched first and sustaining above will be confirmation of base formation between 4825-4850 and then sharp Pull back rally will be seen.