Following lines have been told in both previous Outlooks:-
1- lacking strength and view is cautious because emergence of selling signals also
2- As today up moves are without required force and it is selling signal therefore view is cautious
3- As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance.
4- valid break out of mentioned range will give next trend confirmations and should be firstly watched.
1- lacking strength and view is cautious because emergence of selling signals also
2- As today up moves are without required force and it is selling signal therefore view is cautious
3- As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance.
4- valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Although Nifty moved and traded half hour above 5821 as well as formed intraday high at 5,828.25 but again slipped below 5821 and then again traded at 5811. At present lower levels supports and higher levels selling confirmations between 5795-5828 and follow up moves within this range in the coming hours as well as valid break out of 5795-5828 should be watched now for next moves confirmations.