Next support is at 5943,minimum 5950 was expected and market achieved its first target after lowest formation at 5,947.90 today. Follow up technical positions today will give indications of following next moves:-
1- After follow up selling correction continuation toward 5823 or
2- Up moves after consolidation and correction completion between 5950-6000
Let market prepare and intraday charts start formations then will be updated according to intraday charts patterns formations.
Although some Asian markets are more than 1.5% down but Indian markets are 0.50% down therefore outperforming and sustaining beyond 5950 should be firstly watched today for above mentioned next moves confirmations.
1- After follow up selling correction continuation toward 5823 or
2- Up moves after consolidation and correction completion between 5950-6000
Let market prepare and intraday charts start formations then will be updated according to intraday charts patterns formations.
Although some Asian markets are more than 1.5% down but Indian markets are 0.50% down therefore outperforming and sustaining beyond 5950 should be firstly watched today for above mentioned next moves confirmations.