Quiet market on expiry day today because 7 hours selling between 5208-5236 in last 2 sessions and support between 5161-5195 on 25-04-2012 and both side moves are capped between 5161-5236.
As market is not prepared for any side decisive moves therefore sideways moves were expected for today and following lines were told in "Market at Most Crucial Support levels before Rally beginning"
Although Nifty recovered 50 points after lower levels support and Double Bottom formation on 25-04-2012 but not sufficient and complete consolidation with base formation is required for correction completion. As 7 hours selling between 5208-5236 in last 2 sessions and until Nifty will not sustain above 5236 till then any rally will not be considered.
3 Hours trading between 5185-5210 today and sustaining beyond this range will be 1st indication of next moves. As Selling patterns seen at higher levels today therefore down moves possibilities from here are turning high. Sustaining beyond 5161-5236 will be next trend strong confirmation.
Detailed analysis have already been updated in following topic.Just click following topic link and trade after understanding all crucial points and levels:-
Market at Most Crucial Support levels before Rally beginning
As market is not prepared for any side decisive moves therefore sideways moves were expected for today and following lines were told in "Market at Most Crucial Support levels before Rally beginning"
Although Nifty recovered 50 points after lower levels support and Double Bottom formation on 25-04-2012 but not sufficient and complete consolidation with base formation is required for correction completion. As 7 hours selling between 5208-5236 in last 2 sessions and until Nifty will not sustain above 5236 till then any rally will not be considered.
3 Hours trading between 5185-5210 today and sustaining beyond this range will be 1st indication of next moves. As Selling patterns seen at higher levels today therefore down moves possibilities from here are turning high. Sustaining beyond 5161-5236 will be next trend strong confirmation.
Detailed analysis have already been updated in following topic.Just click following topic link and trade after understanding all crucial points and levels:-
Market at Most Crucial Support levels before Rally beginning