Indian markets are range bound(5400-5600) and not trending, All trends are down but not sustained below 5400 also and recovered 4 times. All the worst and negative news are digested by this range but multiple redidtances above 5500 also and market require complete consolidation at every point above 5500.
Today up move is nice and Nifty is trading between 5455-5475 for the last 5 hours. Nifty sustaining beyond today range will decide that today rally is genuine or not. As today patterns are showing consolidation therefore up move possibility is high and Nifty is trading at 5480 at this moment but if sustains above 5475 tomorrow then rally above 5500 will be considered.
Although consolidation signals between 5455-5475 today but confirmation required tomorrow from sustaining above.
Today up move is nice and Nifty is trading between 5455-5475 for the last 5 hours. Nifty sustaining beyond today range will decide that today rally is genuine or not. As today patterns are showing consolidation therefore up move possibility is high and Nifty is trading at 5480 at this moment but if sustains above 5475 tomorrow then rally above 5500 will be considered.
Although consolidation signals between 5455-5475 today but confirmation required tomorrow from sustaining above.