Following levels were updated in both previous Outlooks:-
1- sustaining above 5745 should be firstly watched for the possibility of strong Pull Back Rally confirmations.
2- Nifty is trading and preparing for next moves between 5730-5746 for the last more than 1 hour. Follow up move within this range and valid break out of this range should be firstly watched for next trend confirmations.
Although Nifty moves above 5745 but could not sustain above and again slipped below the range of 5730-5746.
I would like add here that next resistance above 5745 is at 5777 therefore strong Pull Back Rally confirmations will be above 5777. Next down moves first indication will be after sustaining below 4730 and finally sustaining beyond 200-Day EMA(5672) will decide that Long Term Trend which may last for many months or a year also.
Today is different news led volatile day and finally sustaining beyond 5672-5777 should be watched because that will give next Long Term trend confirmations and it should also be kept in mind that chances are high of finally sustaning below 5672
1- sustaining above 5745 should be firstly watched for the possibility of strong Pull Back Rally confirmations.
2- Nifty is trading and preparing for next moves between 5730-5746 for the last more than 1 hour. Follow up move within this range and valid break out of this range should be firstly watched for next trend confirmations.
Although Nifty moves above 5745 but could not sustain above and again slipped below the range of 5730-5746.
I would like add here that next resistance above 5745 is at 5777 therefore strong Pull Back Rally confirmations will be above 5777. Next down moves first indication will be after sustaining below 4730 and finally sustaining beyond 200-Day EMA(5672) will decide that Long Term Trend which may last for many months or a year also.
Today is different news led volatile day and finally sustaining beyond 5672-5777 should be watched because that will give next Long Term trend confirmations and it should also be kept in mind that chances are high of finally sustaning below 5672