As indian markets opening was not strong despite good gap up opening therefore following line was told within first 10 minutes today in Post-open Outlook:-
"Gap up opening today but not strong and sustaining beyond 5065 will be firstly watched"
Nifty slipped more than 25 points after our above message and consolidation seen between 5009-5022. Although some recovery from lower levels today but without much force and last one hour up moves are also showing Rising Wedge(Bearish) formation therefore suggesting more requiirement for consolidation.
Finally sustaining beyond 5009-5065 will give next immediate trend confirmations therefore should be firstly watched.
"Gap up opening today but not strong and sustaining beyond 5065 will be firstly watched"
Nifty slipped more than 25 points after our above message and consolidation seen between 5009-5022. Although some recovery from lower levels today but without much force and last one hour up moves are also showing Rising Wedge(Bearish) formation therefore suggesting more requiirement for consolidation.
Finally sustaining beyond 5009-5065 will give next immediate trend confirmations therefore should be firstly watched.