Sharp fall after first 3 hours selling indications between 5574-5589 and formation of new intraday low at 5542.85 but equally fast recovery and new trading high formation at 5610 which is above Next resistance(5590-5600). 3 Following news tomorrow:-
1- INFY results.
2- IIP numbers.
3- Inflation data.
Pull Back rally continuation as per expectations and further up moves will depend on above news tomorrow but decisive rally confirmation will be after sustaining above those levels which have been updated in following topic yesterday:-
As INFY was more than 30% up after previous results therefore selling can not be ruled out on the back of such bullish psychology today. Let Nifty sustain above 5600 then up moves will be considered otherwise only intraday volatility and finally down moves because selling during first 3 hours today.
1- INFY results.
2- IIP numbers.
3- Inflation data.
Pull Back rally continuation as per expectations and further up moves will depend on above news tomorrow but decisive rally confirmation will be after sustaining above those levels which have been updated in following topic yesterday:-
As INFY was more than 30% up after previous results therefore selling can not be ruled out on the back of such bullish psychology today. Let Nifty sustain above 5600 then up moves will be considered otherwise only intraday volatility and finally down moves because selling during first 3 hours today.