As down moves after weaker IIP data were lacking required force therefore we did not projected more down moves and told for next moves confirmations through valid break out 5883-5915. Yesterday higher levels selling and lower levels supports were seen within mentioned range and today negative news generated volatility is being seen.
As market digested negative news and got support at lower levels today therefore until Nifty will not sustain below 5883 till then further down move will not be considered and valid break out above 5915 will mean rally possibility after on going correction completion strong indication.
As market digested negative news and got support at lower levels today therefore until Nifty will not sustain below 5883 till then further down move will not be considered and valid break out above 5915 will mean rally possibility after on going correction completion strong indication.