As Indian markets traded whole day yesterday with intraday consolidation patterns and also got lower levels supports therefore deeper correction was not projected and following lines were told in both previous Outlooks yesterday:-
1- supports strengthened near 5639
2- sideways correction(5634-5733) will remain continued tomorrow.
3- Indian markets are in sideways correction mode between 5639-5733.
Today trading within adove mentioned ranges without any deeper correction today. Indian markets are in sideways correction mode between 5639-5733 and today trading within it as well as today trading also betweeen next resistance range(5700-5733)
As today intraday patterns are also showing good consolidation therefore possibility of above mentioned range break out above 5733/5756 increased but 19 sessions sideways market and its break out confirmation is must through forceful break out or sustaining above 5733/5756.
1- supports strengthened near 5639
2- sideways correction(5634-5733) will remain continued tomorrow.
3- Indian markets are in sideways correction mode between 5639-5733.
Today trading within adove mentioned ranges without any deeper correction today. Indian markets are in sideways correction mode between 5639-5733 and today trading within it as well as today trading also betweeen next resistance range(5700-5733)
As today intraday patterns are also showing good consolidation therefore possibility of above mentioned range break out above 5733/5756 increased but 19 sessions sideways market and its break out confirmation is must through forceful break out or sustaining above 5733/5756.