We gave lower level of 5330 on 07-08-2012 and Nifty moved up from this level in last 2 sessions. Lowest of last 2 sessions are as follows:-
1- 08-08-2012- 5,331.05
2- 09-08-2012(at 01:15 PM)- 5,330.25
As selling signals yesterday therefore we showed doubts on immediate up moves and Nifty slipped also today from 5368.20 to 5,330.25.
Although Indian markets are slipping after negative IIP data intraday charts are showing consolidation signals therefore Nifty surged more than 15 points after forming low at 5,330.25.
Indian markets are taking positions for next decisive trend within 5330-5365 and sustaining beyond 5330-5365 will be automatic next trend confirmation.
1- 08-08-2012- 5,331.05
2- 09-08-2012(at 01:15 PM)- 5,330.25
As selling signals yesterday therefore we showed doubts on immediate up moves and Nifty slipped also today from 5368.20 to 5,330.25.
Although Indian markets are slipping after negative IIP data intraday charts are showing consolidation signals therefore Nifty surged more than 15 points after forming low at 5,330.25.
Indian markets are taking positions for next decisive trend within 5330-5365 and sustaining beyond 5330-5365 will be automatic next trend confirmation.