7488 will be strong indication and 7425 will be confirmation of Deeper Correction
Pre-open Outlook(14-01-2016)
As Dow's Futures was trading more than 140 points up and all the European markets were between 1.1% to 2.3% up during Indian trading hours yesterday therefore we told following line at 06:38 PM yesterday in "Sideways Market for Next Big Moves Preparation":-
3- Up moves after strong opening of European markets and sharp surge in Dow's Futures
As all the European markets could not sustain at higher levels and closed with small gains to negative yesterday and Dow Jones also closed 364 points down therefore all the Asian markets are trading 1.1% to 3.7% negative today morning and resultant Indian markets will open weaker today morning.
As 4 hours consolidation between 7488-7521 on 12-01-2016 therefore sustaining below 7488 will be strong indication of deeper correction and confirmation will be below 7425.