Firstly forceful breaking down of last 24 sessions range and after that last more than 4 hours trading between 5590-5615 yesterday with intraday selling patterns at higher levels within this range. Today first 2 hours trading between 5,586-5,610 and until Nifty will not sustain above 5615 till then next up move will not be considered because intraday selling patterns just below it yesterday.
Emergence of Bearish pattern of Head and Shoulders in last 24 sessions and its Neckline broken down at 5634 yesterday but broken down confirmation is left. As selling just below 5615 yesterday therefore expected that more down moves will be seen below today lows(5586) also.
Emergence of Bearish pattern of Head and Shoulders in last 24 sessions and its Neckline broken down at 5634 yesterday but broken down confirmation is left. As selling just below 5615 yesterday therefore expected that more down moves will be seen below today lows(5586) also.