Following line was told at 09:46AM today in Post-open Outlook
sustaining beyond 5290-5340 will be correction completion/continuation confirmation therefore should be firstly watched.
Nifty traded whole day between mentioned range and now trading at 5330 after forming high at 5342.30.
Intraday selling patterns seen between 5318-5332 today and Nifty moved above it also but retraced and again trading between this range. Whole day market is More than 1.75% up today and psychologically tough for general trader to hold their buying positins at such higher rates therefore they sells their buying in little down moves therefore sustaining above 5332/5340(intermediate term trend decider) will be firstly watched next up moves confirmations.
Although Indian markets are going to closed more than 2% up today but intraday charts are suggesting for the requirements of more confirmations. It will be better to get next decisive move confirmations from sustaining beyond today trading. 3 Big events in next week and sustaining beyond today trading range will give first indication of next moves direction after those events.
sustaining beyond 5290-5340 will be correction completion/continuation confirmation therefore should be firstly watched.
Nifty traded whole day between mentioned range and now trading at 5330 after forming high at 5342.30.
Intraday selling patterns seen between 5318-5332 today and Nifty moved above it also but retraced and again trading between this range. Whole day market is More than 1.75% up today and psychologically tough for general trader to hold their buying positins at such higher rates therefore they sells their buying in little down moves therefore sustaining above 5332/5340(intermediate term trend decider) will be firstly watched next up moves confirmations.
Although Indian markets are going to closed more than 2% up today but intraday charts are suggesting for the requirements of more confirmations. It will be better to get next decisive move confirmations from sustaining beyond today trading. 3 Big events in next week and sustaining beyond today trading range will give first indication of next moves direction after those events.