It was expected that Nifty will not slip below 5340 and complete correction within strong support range 5340-5415 and side ways market will be seen but negative Global cues and crude rates hike news led sharp fall seen yesterday but Sentiment reversed today after recovery in Global markets and reduction in Crude rates by more than .50% therefore equally strong recovery seen today and Nifty is trading above 5340 for the last 5 hours.
Intermedia term trend was at stake after slipping below 5340 but survived after more than 5 hours trading above it today. News based highly volatile markets for the last 2 sessions correction completion confirmation is required yet.
Nifty is hovering around 5340 for the last 2 sessions and last 5 hours intraday charts are showing consolidation patterns also today therefore possibility of sustaining above 5340 has increased but confirmation of correction completion is left through sustaining above.
Only watch sustaining above 5340 tomorrow for next wave of rally after correction completion.
Intermedia term trend was at stake after slipping below 5340 but survived after more than 5 hours trading above it today. News based highly volatile markets for the last 2 sessions correction completion confirmation is required yet.
Nifty is hovering around 5340 for the last 2 sessions and last 5 hours intraday charts are showing consolidation patterns also today therefore possibility of sustaining above 5340 has increased but confirmation of correction completion is left through sustaining above.
Only watch sustaining above 5340 tomorrow for next wave of rally after correction completion.