As "Bearish Rising Wedge" formation was seen between 5330-5350 yesterday therefore following technical requirement was updated in both previous Outlooks:-
"consolidation is required for a strong rally above 5365"
Nifty is trading between 5339-5361 since opening today and slipped also from intraday higher levels but sustaining beyond 5330-5365 should be firstly watched for confirmation of final market positions between most crucial and next trend deciding resistance range(5300-5365)
As both consolidations and "Bearish Rising Wedge" formation was seen between 5300-5350 yesterday therefor more preparation is required for next decisive moves. Let market prepare and market take positions then next moves will be updated from intraday charts formations.
"consolidation is required for a strong rally above 5365"
Nifty is trading between 5339-5361 since opening today and slipped also from intraday higher levels but sustaining beyond 5330-5365 should be firstly watched for confirmation of final market positions between most crucial and next trend deciding resistance range(5300-5365)
As both consolidations and "Bearish Rising Wedge" formation was seen between 5300-5350 yesterday therefor more preparation is required for next decisive moves. Let market prepare and market take positions then next moves will be updated from intraday charts formations.