We told following posted following topics:-
1- On 26-01-2013- Correction On 29th Jan or From 1st Week of Feb 2013
2- On 28-01-2013- Down Moves after RBI Credit Policy
Although sentiment boosting quarter pct rate cut of both Repo and CRR but we were not bullish and when Nifty was trading above 6100 then told following lines in Mid-session Outlook today:-
"valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations."
As seling and short covering at higher levels due to heated sentiments therefore market could not sustain at higher levels and slipped into Red. Finally sustaining below 6062 will mean deeper correction in the coming sessions.
1- On 26-01-2013- Correction On 29th Jan or From 1st Week of Feb 2013
2- On 28-01-2013- Down Moves after RBI Credit Policy
Although sentiment boosting quarter pct rate cut of both Repo and CRR but we were not bullish and when Nifty was trading above 6100 then told following lines in Mid-session Outlook today:-
"valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations."
As seling and short covering at higher levels due to heated sentiments therefore market could not sustain at higher levels and slipped into Red. Finally sustaining below 6062 will mean deeper correction in the coming sessions.