Although all the Global markets were down and some were in deep Red as well as gap down opening was seen in Indian markets also but we were not bearish and gave previous consolidation range(5940-5970) for next moves confirmations. As lower levels supports and consolidations patterns indications also today therefore until Nifty will not sustain below 5940 till then immediate down moves will not be considered.
Only first signal of correction completion today and complete follow up consolidation is required for valid break out and moves above 5970 as well as reentering into previous 14 sessions range(5989-6111).
Only first signal of correction completion today and complete follow up consolidation is required for valid break out and moves above 5970 as well as reentering into previous 14 sessions range(5989-6111).