Following lines were told in Technical Analysis and Market Outlook today:-
1- Indian markets are not prepared for any side decisive moves
2- Next moves preparation through sideways trading will be seen between last 9 sessions trading range(5829-5965) in the coming sessions.
3- For next moves first indication valid break out of yesterday trading range(5872-5924) should be firstly watched today.
First 4 hours trading between 5879-5907 today with slipping without force and today intraday patterns are showing consolidation indications. Market takes its own time to complete consolidation/distribution process,let it complete and intraday charts chart to show its confirm formations then next decisive moves will be projected.
As intraday charts are showing consolidation indications therefore finally up moves are expected but whole market,small traders,investors and almost all are also Bullish and expecting rally therefore continuous down moves are being seen for Stop Loss cutting and sharp down panics also can not be ruled out in the coming sessions. For confirmations valid break out of following ranges should be watched:-
1- 5872-5924(first indication)
2- 5829-5965(final confirmation)
1- Indian markets are not prepared for any side decisive moves
2- Next moves preparation through sideways trading will be seen between last 9 sessions trading range(5829-5965) in the coming sessions.
3- For next moves first indication valid break out of yesterday trading range(5872-5924) should be firstly watched today.
First 4 hours trading between 5879-5907 today with slipping without force and today intraday patterns are showing consolidation indications. Market takes its own time to complete consolidation/distribution process,let it complete and intraday charts chart to show its confirm formations then next decisive moves will be projected.
As intraday charts are showing consolidation indications therefore finally up moves are expected but whole market,small traders,investors and almost all are also Bullish and expecting rally therefore continuous down moves are being seen for Stop Loss cutting and sharp down panics also can not be ruled out in the coming sessions. For confirmations valid break out of following ranges should be watched:-
1- 5872-5924(first indication)
2- 5829-5965(final confirmation)