As selling was seen at higher levels in 2 previous sessions therefore consolidation was required through intraday correction and it is being seen today on the back of negative news from Indian Parliament.Uproar in Parliament today due to Wallmart Bribary news therefore Indian markets slipped and correcting at higher levels on the back of negative news flow.
As Indian Stocks market are Bullish therefore will correct at higher levels without deeper correction. Expected that on going rally will remain continued and next target of 6031 will be seen in the coming sessions after today started correction completion.
As slipping and support getting possibility at or near about next support range(5839-5860) was expected therefore following lines were told in Technical Analysis and Market Outlook yesterday:-
"minor slipping possibility is alive and support getting possibility is at or near about next support range(5839-5860)"
All trends are up,only short term corrections was expected and being seen now. Today down moves will be understood technical correction and following supports will be firstly watched:-
As Indian Stocks market are Bullish therefore will correct at higher levels without deeper correction. Expected that on going rally will remain continued and next target of 6031 will be seen in the coming sessions after today started correction completion.
As slipping and support getting possibility at or near about next support range(5839-5860) was expected therefore following lines were told in Technical Analysis and Market Outlook yesterday:-
"minor slipping possibility is alive and support getting possibility is at or near about next support range(5839-5860)"
All trends are up,only short term corrections was expected and being seen now. Today down moves will be understood technical correction and following supports will be firstly watched:-
5839-5860