Today trading between 5550-5590 formations and this range final break out will give confirmation to the validity of last Friday breaking down of 5583.
Although Nifty traded most time in negative zone and now trading also near today lower levels but with intraday consolidation patterns formations therefore up moves expectations are alive.
As more than 5 hours trading within above mentioned range therefore this range break out will give following confirmations:-
1- Above 5590 will mean false break down last Friday and again trading between last 36 sessions trading range.
2- Below 5550 will be confirmation of deep down moves.
Although Nifty traded most time in negative zone and now trading also near today lower levels but with intraday consolidation patterns formations therefore up moves expectations are alive.
As more than 5 hours trading within above mentioned range therefore this range break out will give following confirmations:-
1- Above 5590 will mean false break down last Friday and again trading between last 36 sessions trading range.
2- Below 5550 will be confirmation of deep down moves.