Although Indian markets showed consolidations patterns formations yesterday but Indian Rupee weakened more than 1% after the closing of Indian markets yesterday therefore its reaction will be seen in the beginning of today market through weak opening.
Expected that Nifty will firsly trade and prepare for next moves near about yesterday trading range(5360-5465),follow up moves and sustaining beyond this range will pave the way of next;-
1-Short Term up trend after sustaining above 5465.
2-Correction continuation after sustaining below 5360 and its possibility is high because all trends are down as well as sentiment is weak today morning due to Indian Rupee trading at all time low and US market weak closing yesterday.
Expected that Nifty will firsly trade and prepare for next moves near about yesterday trading range(5360-5465),follow up moves and sustaining beyond this range will pave the way of next;-
1-Short Term up trend after sustaining above 5465.
2-Correction continuation after sustaining below 5360 and its possibility is high because all trends are down as well as sentiment is weak today morning due to Indian Rupee trading at all time low and US market weak closing yesterday.