Most of the Asian markets are trading with good gains after strong closing in US markets therefore sentiment is blasting and Nifty is trading above 5300 after gap up opening today. Most of the Global markets and Indian markets are trading near 200-Day EMA after previous week correction and clearity from Europe will mean strong rally all around above 200-Day EMA and long term trend turning up.
Last resistance of ongoing rally is between 5318-5365 and Nifty is trading at lower levels of this resistance. Strong Global cues led trading above 5300 but clear signals are required from Greece for crossing 5365. Today intraday consolidation and sustaining above 5300 will be strong indication of rally above 5365.
Just watch sustaining above 5300 today and sustaining above it will be confirmation of previous resistance(5377-5297) clearance as well as strong indication of next up moves beginning to cross 5365.
Last resistance of ongoing rally is between 5318-5365 and Nifty is trading at lower levels of this resistance. Strong Global cues led trading above 5300 but clear signals are required from Greece for crossing 5365. Today intraday consolidation and sustaining above 5300 will be strong indication of rally above 5365.
Just watch sustaining above 5300 today and sustaining above it will be confirmation of previous resistance(5377-5297) clearance as well as strong indication of next up moves beginning to cross 5365.