Correction is on within 'Falling Channel' as well as correction pattern is 'Bullish flag' formation therefore expected that finally sharp surge will be seen after upward break out of 'Falling channel'.
Next supports are as follows:-
1- 5175-5236(strong supports)
2- 5136-5160
Nifty is trading between 5175-5236(strong supports) and sustaining below 5175 will mean high possibility of next support(5136) breaking down.
Nifty traded more than 4 hours between 5245-5363 yesterday and this range was broken down yesterday also as well as again trading below it since opening today. As sustaining below 5245 will be strong indication of 5175-5236(strong supports) breaking down therefore should be firstly watched today.
Next supports are as follows:-
1- 5175-5236(strong supports)
2- 5136-5160
Nifty is trading between 5175-5236(strong supports) and sustaining below 5175 will mean high possibility of next support(5136) breaking down.
Nifty traded more than 4 hours between 5245-5363 yesterday and this range was broken down yesterday also as well as again trading below it since opening today. As sustaining below 5245 will be strong indication of 5175-5236(strong supports) breaking down therefore should be firstly watched today.