All the Asian markets are in Green with Nikkei and Hang Sang are more than 2% and 1% up respectively therefore sentiment is strong today morning therefore positive opening will be seen in Indian markets. Good selling seen between 6030-6065 in last 3 sessions therefore complete consolidation is required for sustaining above 6065. As Bull Markets consolidate at higher levels and up moves possibilities up to 6331 are still alive therefore rally continuation after follow up consolidation can not be ruled out but follow up selling in heated sentiment today will mean straight fall toward 5970 also.
12 Sessions sideways trading between 5950-6065 with good selling between 6030-6065 in last 3 sessions therefore market is well prepared for down moves also but strong Global markets and declaration of RIL Quaeterly results today therefore firstly follow up buying/selling will be watched and valid break out of 6030-6065 will give following moves confirmations;-
1- Above 6065 will mean rally continuation towards 6239.95/6331
2- Below 6030 will mean sharp down toward 5970/5950.
12 Sessions sideways trading between 5950-6065 with good selling between 6030-6065 in last 3 sessions therefore market is well prepared for down moves also but strong Global markets and declaration of RIL Quaeterly results today therefore firstly follow up buying/selling will be watched and valid break out of 6030-6065 will give following moves confirmations;-
1- Above 6065 will mean rally continuation towards 6239.95/6331
2- Below 6030 will mean sharp down toward 5970/5950.