Following lines were told yesterday in Technical Analysis and Market Outlook(14-05-2014);-
1- very Short Term Correction will be considered at this moment.
2- intraday volatility with panic bottom formation can not be ruled out
3- finally rally will remain continued after 1/2 sessions consolidation
As very Short Term Correction continuation therefore Nifty moved down after some follow up selling at higher levels today also and some more down moves can not be ruled out. Although selling at higher levels today and yesterday but expected that fresh consolidation will be seen above 7020 and finally rally will remain continued.
1- very Short Term Correction will be considered at this moment.
2- intraday volatility with panic bottom formation can not be ruled out
3- finally rally will remain continued after 1/2 sessions consolidation
As very Short Term Correction continuation therefore Nifty moved down after some follow up selling at higher levels today also and some more down moves can not be ruled out. Although selling at higher levels today and yesterday but expected that fresh consolidation will be seen above 7020 and finally rally will remain continued.