Following line and levels were updated yesterday in "Correction continuation to test next Supports"
More slipping to test following supports will be seen in the coming sessions:-
1- Support between 5165-5192
2- Support between 5136-5155
Slipping after opening and above mentioned both supports have been tested today. Although down moves immediately after opening but intraday patterns have started to produce intraday consolidation patterns therefore again support getting within or near about 2nd support range(5136-5155) will be considered now.
It should be kept in mind that correction is still continued and Nifty may slip below 5136 also but expected that finaally Nifty will get support near about 5136 because intraday consolidation patterns started to develop today.
Let consolidation process and bottom formation complete then up moves will be expected and updated also after confirmations.
More slipping to test following supports will be seen in the coming sessions:-
1- Support between 5165-5192
2- Support between 5136-5155
Slipping after opening and above mentioned both supports have been tested today. Although down moves immediately after opening but intraday patterns have started to produce intraday consolidation patterns therefore again support getting within or near about 2nd support range(5136-5155) will be considered now.
It should be kept in mind that correction is still continued and Nifty may slip below 5136 also but expected that finaally Nifty will get support near about 5136 because intraday consolidation patterns started to develop today.
Let consolidation process and bottom formation complete then up moves will be expected and updated also after confirmations.