Asian markets are mixed today morning after US and European markets negative opening yesterday and Govt announced 2nd round of FDI reforms yesterday therefore some intraday up moves and intraday volatility can not be ruled out today after positive opening today. View is cautious and not Bullish because selling signals seen in intraday charts of both previous sessions.
As big decision from Govt yesterday therefore its positive reaction will be seen on Indian markets today and good up moves will be seen in those sectors also which are broadly opened for foreign investments. Although view is still not Bullish and finally Wave-C correction is still expected but following levels valid break out will be firstly watched for next trend first indication/confirmations:-
1-5960-6020(Next trading range and Nifty will firstly prepare for trend within this range)
2-6023-6034(Break out will be strong rally confirmation)
3-5930-5955(Break down will be first indication of Wave-C correction and confirmation will be below 5918)
As big decision from Govt yesterday therefore its positive reaction will be seen on Indian markets today and good up moves will be seen in those sectors also which are broadly opened for foreign investments. Although view is still not Bullish and finally Wave-C correction is still expected but following levels valid break out will be firstly watched for next trend first indication/confirmations:-
1-5960-6020(Next trading range and Nifty will firstly prepare for trend within this range)
2-6023-6034(Break out will be strong rally confirmation)
3-5930-5955(Break down will be first indication of Wave-C correction and confirmation will be below 5918)
Let market prepare,take positions for next decisive moves and intraday charts start to form patterns accordingly then next trend will be updated in the same manner as being done for the last more than 3 years.