As more indications of consolidations therefore up move above 6035 expectations was updated in Mid-session Outlook-2(25-01-2013) and it was seen also but immediately after that Bearish Rising Wedge formation also developed therefore valid break out confirmation was required and it has been received through sustaining above 6035.
8 Sessions sideways trading between 6000-6100 with resistances between 6068-6100 and now Nifty is trading at lower levels of this range. Complete consolidation is required for sustaining above 6100. Follow up moves within and near about mentioned resistance range should be watched for the prospects of next rally above 6100 or again range bound market within 6000-6100.
8 Sessions sideways trading between 6000-6100 with resistances between 6068-6100 and now Nifty is trading at lower levels of this range. Complete consolidation is required for sustaining above 6100. Follow up moves within and near about mentioned resistance range should be watched for the prospects of next rally above 6100 or again range bound market within 6000-6100.