When Nifty was trading in Red near today lower levels then bounce back possibility was told at 10:48 AM today and it was seen also and now Nifty is trading above 5800 as well.
Although I always give range for confirmation of next moves and Trends but can not be given today because news based highly volatile markets and without any base formations.
Firstly validity of yesterday breaking down has to be decided and sustaining beyond 5823 will be watched specially after Budget and then next big trend will be decided accordingly and it should be kept in mind that:-
1- Market is well prepared for big down moves and that will trigger after confirmation of sustaining below 5823.
2- Only big announcements in Budget may save Indian markets from going into Bear grip and strong rally after Budget will be its strong indication as well as confirmation will be after sustaining above crucial Resistances.
Although I always give range for confirmation of next moves and Trends but can not be given today because news based highly volatile markets and without any base formations.
Firstly validity of yesterday breaking down has to be decided and sustaining beyond 5823 will be watched specially after Budget and then next big trend will be decided accordingly and it should be kept in mind that:-
1- Market is well prepared for big down moves and that will trigger after confirmation of sustaining below 5823.
2- Only big announcements in Budget may save Indian markets from going into Bear grip and strong rally after Budget will be its strong indication as well as confirmation will be after sustaining above crucial Resistances.