The Cabinet Committee on Economic Affairs (CCEA) did not hiked Fuel price today and partial deregulation of Diesel decided therefore Indian markets soared. Indian markets gave positive indications immediately after opening and economy favouring decision gave up moves trigger.
As intraday charts are showing consolidation between 6001-6017 today therefore this range will give support but good selling between 6030-3065 yesterday therefore more follow up consolidation is required for next rally above 6065. Nifty traded first 4 hours between 6001-6031 today and firstly sustaining above 6031 should be watched for next rally confirmation because today last half hour up moves are positive news reaction also.
As intraday charts are showing consolidation between 6001-6017 today therefore this range will give support but good selling between 6030-3065 yesterday therefore more follow up consolidation is required for next rally above 6065. Nifty traded first 4 hours between 6001-6031 today and firstly sustaining above 6031 should be watched for next rally confirmation because today last half hour up moves are positive news reaction also.