As today up moves are without required force and it is selling signal therefore view is cautious. Nifty is trading between resistance range(5800-5895) and intraday corrections with consolidations are required for decisive up moves within this range.
Nifty firstly traded at 5821 within 1st minute of opening and since then trading below it after forming lowest at 5795.05. 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 and:-
1- Above 5821 will mean up moves after possibility of follow up consolidations within resistance range.
2- Below 5795 will mean down moves and strengthening of resistance.
Follow up moves in the coming hours and valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Nifty firstly traded at 5821 within 1st minute of opening and since then trading below it after forming lowest at 5795.05. 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 and:-
1- Above 5821 will mean up moves after possibility of follow up consolidations within resistance range.
2- Below 5795 will mean down moves and strengthening of resistance.
Follow up moves in the coming hours and valid break out of mentioned range will give next trend confirmations and should be firstly watched.