As Short Term Oscillators were overbought after strong rally in last 10 sessions and sentiment turned heated after Dow Jones 225 points rally of yesterday therefore intraday correction is being seen immediately after opening today. Intraday correction may retrace upto following levels:-
[0.130]- 8,874.7800
[0.236]- 8,886.0200
[0.270]- 8,889.6200
[0.382]- 8,901.4900
As good consolidation between 8862-8893 yesterday therefore Nifty will not easily sustain below 8862 as well as expected that Nifty will get supports within or near about this range. At present intraday charts of first 2 hours are suggesting that it is only that correction which should complete within 2/3 sessions.
[0.130]- 8,874.7800
[0.236]- 8,886.0200
[0.270]- 8,889.6200
[0.382]- 8,901.4900
As good consolidation between 8862-8893 yesterday therefore Nifty will not easily sustain below 8862 as well as expected that Nifty will get supports within or near about this range. At present intraday charts of first 2 hours are suggesting that it is only that correction which should complete within 2/3 sessions.