18119 will confirm correction
beginning of on going rally
Post-open Outlook(14-01-2022)
As Dow Jones closed 176 points down yesterday therefore most Asian markets were trading more than 0.65% down and resultant sentiment turned weaker hence gap down opening of Indian markets.
As selling patterns were not seen and consolidation patterns were formed yesterday therefore Nifty recovered more than 110 points from lower levels in first 40 Minutes and fresh selling patterns formations today will mean first signal of correction beginning.
Last 2 sessions trading between 18129-18272 and today first 3 minutes lowest is below it at 18119.65 therefore firstly sustaining beyond 18119 should also be watched in the coming sessions for correction beginning confirmation of that on going rally which started from 16410.20 on 20-12-2021.