Nifty traded 6 hours trading within or near about 5108-5125 in last 2 days.This range was broken out and Nifty traded last one hour above 5125 yesterday. As up move was without force therefore doubts were expressed in both previous outlooks(Pre-Closing and Nifty-Micro Analysis) following line were told:-
1- confirmation is required tomorrow through sustaining above 5125 and crossing first resistance range of 5125-5155.
2- If Nifty fails to sustain above 5125 then break out and sustaining beyond 6 hours trading range(5108-5125) should be watched for next moves confirmations.
More than 40/50 points up/down opening nowadays on the back of extreme bullish/bearish Global cues. As global cues are weak therefore 40/50 points down opening will be seen today but sustaining below 5108 will be down moves confirmation therefore should be firstly watched today.
1- confirmation is required tomorrow through sustaining above 5125 and crossing first resistance range of 5125-5155.
2- If Nifty fails to sustain above 5125 then break out and sustaining beyond 6 hours trading range(5108-5125) should be watched for next moves confirmations.
More than 40/50 points up/down opening nowadays on the back of extreme bullish/bearish Global cues. As global cues are weak therefore 40/50 points down opening will be seen today but sustaining below 5108 will be down moves confirmation therefore should be firstly watched today.