As good selling in last 3 days between 5878-5917 therefore correction was expected and it was updated 2 times with following lines yesterday:-
1- At 03:10 PM in Pre-Closing Outlook:- "sharp down moves despite Congress victory on FDI issue in Parliament today"
2- At 06:28 PM in Short Term Correction on Cards:-"minimum very short Term correction will be seen tomorrow despite Congress victory on FDI issue in Parliament today"
Short term correction was expected and it has been seen today,next supports are between 5829-5848 and Nifty is trading between 5839-5868 for the last 3 hours. Nifty is trading between and above next supports for the last 3 hours but marrket require complete consolidation for any decisive up move above 5917 and it will take its own time. Follow up selling and breaking down of 5829 will mean sharp fall.
Although intraday charts are showing selling indications between 5839-5868 today but more intraday formations are required for confirmations. Let market prepare then next moves will be updated according to intraday charts complete formation and next trend decider range(5829-5868) valid break out should be also firstly watched for next moves confirmation.
1- At 03:10 PM in Pre-Closing Outlook:- "sharp down moves despite Congress victory on FDI issue in Parliament today"
2- At 06:28 PM in Short Term Correction on Cards:-"minimum very short Term correction will be seen tomorrow despite Congress victory on FDI issue in Parliament today"
Whatsoever was clearly told yesterday all that happened today and sharp fall seen immediately after opening today.
Although intraday charts are showing selling indications between 5839-5868 today but more intraday formations are required for confirmations. Let market prepare then next moves will be updated according to intraday charts complete formation and next trend decider range(5829-5868) valid break out should be also firstly watched for next moves confirmation.