Although down moves were expected after some more intraday selling but weakness deepened immediately after opening due to negative news from rating agencies and Nifty traded 2 hours between next support range(6000-6020). As sentiment turned depressed and whole market turns Bearish in such mood therefore up moves are being seen after lower levels good supports but again down moves after short covering can not be ruled out.
Expected that Nifty will trade now within 6000-6068,possibility of slipping below 6000 can not be ruled out and view will be Bullish only after complete consolidations and sustaining above 6100.
Expected that Nifty will trade now within 6000-6068,possibility of slipping below 6000 can not be ruled out and view will be Bullish only after complete consolidations and sustaining above 6100.