Although sharp surge after European markets positive opening and Dow's Futures more than 70 points positive trading but sigh of relief that 5175 is safe yet despite deep Red Asian markets today.
Intraday support confirmation at lower levels between 5192-5205 today but complete consolidation is required to cross following resistances:-
1- 5236
2- 5255
3- 5263
Until Nifty will not sustain above 5263 till then decisive up move will not be considered. If fresh selling does not develop and follow up consolidation emerge then Nifty will trade few more hours/sessions between 5192-5263 before decisive up move.
Bulls should watch survival of today intraday support of 5192-5205.
Intraday support confirmation at lower levels between 5192-5205 today but complete consolidation is required to cross following resistances:-
1- 5236
2- 5255
3- 5263
Until Nifty will not sustain above 5263 till then decisive up move will not be considered. If fresh selling does not develop and follow up consolidation emerge then Nifty will trade few more hours/sessions between 5192-5263 before decisive up move.
Bulls should watch survival of today intraday support of 5192-5205.