Indian markets are locked between supports and resistances therefore following supports and resistances were updated in previous outlooks:-
1- Support-1- 4688-4720
2- Support-2- 4590-4625
3- Resistance-1- 4750-4780
4- Resistance-2- 4765-4778
5- Resistance-3- 4780-4838
Market will firstly prepare for next moves and take positions between 4688-4780 and slipping below 4688 will be a big blow. Crossing 4780 and sustaining above 4838 will be real sentiment boosting and confidence building for Indian markets.
Although Indian markets traded in Red whole day today but intraday patterns are showing consolidation signals therefore fresh upmoves hopes are alive despite Negative zone trading at this moment today.
1- Support-1- 4688-4720
2- Support-2- 4590-4625
3- Resistance-1- 4750-4780
4- Resistance-2- 4765-4778
5- Resistance-3- 4780-4838
Market will firstly prepare for next moves and take positions between 4688-4780 and slipping below 4688 will be a big blow. Crossing 4780 and sustaining above 4838 will be real sentiment boosting and confidence building for Indian markets.
Although Indian markets traded in Red whole day today but intraday patterns are showing consolidation signals therefore fresh upmoves hopes are alive despite Negative zone trading at this moment today.