Only Bullish views were posted in this Blog for today despite crashing Global markets. We were cautious for safety because Global markets were crashing and US Futures were more than 2.5% down.
As soon as intraday support developed then it was updated also in Mid-session Outlook and following lines were told:-
"Final conclusion from today markets that Indian markets could not test last 3 sessions low(4929) and lower levels supports are safe because lower levels consolidation also seen between 4945-4966 today"
Nifty crossed 5029 and tested last 3 sessions resistance range(5037-5064) today. Following conclusive line should be kept in mind which was told in Pull Back Rally is on amid Crashing Global Markets:-
Pull Back rally is continued from 4720 and its correction is on between 4929-5064 for the last 3 sessions. As Good buying between 4929-5026 during last 3 sessions therefore finally upmoves and continuation of Pull Back Rally expected but caution is must for the only reason given above.
As soon as intraday support developed then it was updated also in Mid-session Outlook and following lines were told:-
"Final conclusion from today markets that Indian markets could not test last 3 sessions low(4929) and lower levels supports are safe because lower levels consolidation also seen between 4945-4966 today"
Nifty crossed 5029 and tested last 3 sessions resistance range(5037-5064) today. Following conclusive line should be kept in mind which was told in Pull Back Rally is on amid Crashing Global Markets:-
Pull Back rally is continued from 4720 and its correction is on between 4929-5064 for the last 3 sessions. As Good buying between 4929-5026 during last 3 sessions therefore finally upmoves and continuation of Pull Back Rally expected but caution is must for the only reason given above.