View was bullish for yesterday but after watching global sentiments I clearly told my changed view 3 times upto 1st hour of trading yesterday for saving any type of loss:-
1- Firstly told in half hour before opening in Pre-Open Market Outlook-2:- yesterday trading range(5945-5990) should be kept in mind for next up move confirmations.
2- Secondly told within 15 minutes after opening in Post-open outlook:- if Nifty sustains below 5945 then it will be termination of last week started pull back rally.
3- Thirdly told within 1 hour after opening inPost-Open Outlook-2:- After watching today down force it is expected that Nifty will not able to sustain above 5945.
It has been seen in last 5 sessions that ranges are being broken out and broken down after global cues and different news therefore sustaining beyond has to be seen for confirmations according to 2/3 days closing beyond technical requirements. Nifty closed below 5945 yesterday and if it happens today also then that will be confirmation of breaking down.
Although sustaining below question is left to be replied but It is clear from EOD charts that 4 days narrow range has been broken down and yesterday intraday charts of Nifty and many pivotal stocks are showing selling formations. It seems that last week begun pull back rally has been finished yesterday and expected that Nifty will sustain below 5945 as well as more down moves will be seen in the coming sessions.
Opening will depend on global cues but sustaining above 5945 not expected and finally down moves toward 5690 expected either from today or tomorrow.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
