Following lines were told in 2 previous lotlooks which proved 100% accurate today:-
1- In Pre-Closing Outlook yesterday-"more down moves possibilities turned higher after breaking down of that support range in which Nifty is trading(4920-4950)"
2- Pre-open Outlook today-"Nifty will firstly trade between 4840-4890 after gap down opening. Indian markets will prepare for next moves within this range"
Nifty traded most of the time between 4840-4890 in first hour after gap down opening today but only high volatility and sharp intraday surge after 17 European countries agreement positive news. As 50.0% retracement level(4869) is also lying within mentioned today 1st trading range therefore this range is crucial and sustaining beyond this range will be next moves confirmation.
Only volatility within mentioned range today therefore no conclusive intraday patterns formations. Let market prepare and formation of intraday patterns complete then conclusions will be posted in the coming outlooks in the same manner as was told for down moves possibility in Pre-Closing Outlook yesterday.
1- In Pre-Closing Outlook yesterday-"more down moves possibilities turned higher after breaking down of that support range in which Nifty is trading(4920-4950)"
2- Pre-open Outlook today-"Nifty will firstly trade between 4840-4890 after gap down opening. Indian markets will prepare for next moves within this range"
Nifty traded most of the time between 4840-4890 in first hour after gap down opening today but only high volatility and sharp intraday surge after 17 European countries agreement positive news. As 50.0% retracement level(4869) is also lying within mentioned today 1st trading range therefore this range is crucial and sustaining beyond this range will be next moves confirmation.
Only volatility within mentioned range today therefore no conclusive intraday patterns formations. Let market prepare and formation of intraday patterns complete then conclusions will be posted in the coming outlooks in the same manner as was told for down moves possibility in Pre-Closing Outlook yesterday.