Long Terms Trend decider 200-Days EMA is at 5767 today and it has been tested today through lowest formation at 5756.10. As intraday consolidation patterns with lower levels support seen today therefore until fresh selling will not develop as well as Nifty will not sustain below 5767 till then next down moves will not be considered. Although deep down moves were seen yesterday but intraday charts showed consolidation patterns indications therefore if follow up buying develop in the coming hours then correction completion will be considered near 200-Days EMA.
Sustaining beyond 5767 should be firstly watched now for next trend confirmations.
Sustaining beyond 5767 should be firstly watched now for next trend confirmations.