Although good up moves were seen after 01:15 PM last Friday but were on the back of Glabal cues therefore need of consolidation before next up move was told at 03:05:00 PM on 08-03-2013. CNX MIDCAP and CNX SMALLCAP did not showed such up moves after 01:15 PM and remained range bound as well as showed selling patterns therefore following lines were told in Trading within Range Market and not Trending
"Expected that Nifty will firstly trade between 5890-5970 in the coming sessions and will prepared for next moves"
Pull Back rally gained 298 points in last 6 sessions and today most time trading between next resistance(5940-5970) which is crucial because Intermediate term trend will be up above 5970.
Correction started from 6111 after completion of Wave-5 therefore that whole up move has to be corrected which begun from 4770.35 on 04-06-2012. Just click following link for Retracement Levels of on going correction:-
Long Term Trend Decider 5548
Nifty traded between mentioned next resistance range(5940-5970) for the last more than 3 hours(today and last Friday) and this range break out will be next moves 1st strong signal. As selling patterns formations also seen within this range therefore its breaking down possibility can not be ruled out.
"Expected that Nifty will firstly trade between 5890-5970 in the coming sessions and will prepared for next moves"
Pull Back rally gained 298 points in last 6 sessions and today most time trading between next resistance(5940-5970) which is crucial because Intermediate term trend will be up above 5970.
Correction started from 6111 after completion of Wave-5 therefore that whole up move has to be corrected which begun from 4770.35 on 04-06-2012. Just click following link for Retracement Levels of on going correction:-
Long Term Trend Decider 5548
Nifty traded between mentioned next resistance range(5940-5970) for the last more than 3 hours(today and last Friday) and this range break out will be next moves 1st strong signal. As selling patterns formations also seen within this range therefore its breaking down possibility can not be ruled out.
Firstly watch today valid break out of 5936-5970 for next moves strong signal.