Infosys disappointed markets by cutting EPS guidance and weak opening seen in Indian markets but minor up moves also after the news of 2.7% up in August IIP and Nifty tested next resistance range(5720-5733).
Positive and negave news led first 3 hours sideways market within 5680-5724 with both higher levels good selling and lower levels minor intraday support also. Bullish rally is on. All trends are up but correction started last Friday after Circuit Filter led huge volatility. Sharp recovery seen yesterday after correction in first 3 sessions of current week but higher levels selling also seen today and sustaining below 5680 will mean down moves. Following levels should be watched now:-
1- 5680-5724(First indication)
2- 5639-5733
3- 5639-5756(Final confirmation)
Positive and negave news led first 3 hours sideways market within 5680-5724 with both higher levels good selling and lower levels minor intraday support also. Bullish rally is on. All trends are up but correction started last Friday after Circuit Filter led huge volatility. Sharp recovery seen yesterday after correction in first 3 sessions of current week but higher levels selling also seen today and sustaining below 5680 will mean down moves. Following levels should be watched now:-
1- 5680-5724(First indication)
2- 5639-5733
3- 5639-5756(Final confirmation)