Last 2 sessions sideways trading between 8383-8446 with lower levels good consolidation and higher levels minor selling therefore finally rally continuation expectations above 8446 are alive. As multiple resistances are lying above 8446 and Short Term Indicators have moved into over bought zone therefore follow up consolidation is must.
As most Asian markets are trading with sufficiently good gains and sentiment is strong today morning therefore Nifty should trade above 8446 immediately after opening otherwise possibility of Very Short Term correction will be considered and then finally valid break out of 8383-8446 will give next decisive moves confirmations.
As most Asian markets are trading with sufficiently good gains and sentiment is strong today morning therefore Nifty should trade above 8446 immediately after opening otherwise possibility of Very Short Term correction will be considered and then finally valid break out of 8383-8446 will give next decisive moves confirmations.