Following line was told in previous Outlook yesterday:-
1-"both buying and selling patterns formations in last 2 sessions"
2-"one sided trading positions have not been built up"
3-"follow up moves and valid break out last 2 sessions trading range(6056-6127) should be firstly watched tomorrow for next trend confirmations"
As one sided trading positions were not been built up therefore Indian markets are flat today despite weak Asian and US markets. Following ranges valid break out should be firstly watched now for next moves confirmations:-
1-Today actual trading range(6080-6111) for next moves first indication.
2-3 Sessions trading range(6056-6127) for next moves confirmations.
As strong resistances are lying just above 3 sessions trading range between 6130-6180 therefore next up trend will be considered above 6180. Follow up selling and once slipping below 6056 will mean steep fall also therefore now sideways market between 6056-6180 will be considered and its valid break out will be watched in the coming sessions for next moves confirmations.
1-"both buying and selling patterns formations in last 2 sessions"
2-"one sided trading positions have not been built up"
3-"follow up moves and valid break out last 2 sessions trading range(6056-6127) should be firstly watched tomorrow for next trend confirmations"
As one sided trading positions were not been built up therefore Indian markets are flat today despite weak Asian and US markets. Following ranges valid break out should be firstly watched now for next moves confirmations:-
1-Today actual trading range(6080-6111) for next moves first indication.
2-3 Sessions trading range(6056-6127) for next moves confirmations.
As strong resistances are lying just above 3 sessions trading range between 6130-6180 therefore next up trend will be considered above 6180. Follow up selling and once slipping below 6056 will mean steep fall also therefore now sideways market between 6056-6180 will be considered and its valid break out will be watched in the coming sessions for next moves confirmations.