Following conclusive lines were told yesterday in Technical Analysis and Market Outlook(03-09-2013):-
1- expected that fresh down moves will begin after follow up selling in the coming 1/2 sessions.
2- sustaining below 5490 will mean fresh down moves after completion of ongoing rally
Fresh down moves seen immediately after opening and Nifty slipped 97 points from higher levels as well as traded more than 1% down within first 50 minutes despite most Asian were in Green and some were more than 1% up. Nifty is trading between 5483-5510 for the last 1 hour and sustaining below 5490 should be firstly watched now because that will be strong indication of Pull Back Rally completion.
1- expected that fresh down moves will begin after follow up selling in the coming 1/2 sessions.
2- sustaining below 5490 will mean fresh down moves after completion of ongoing rally
Fresh down moves seen immediately after opening and Nifty slipped 97 points from higher levels as well as traded more than 1% down within first 50 minutes despite most Asian were in Green and some were more than 1% up. Nifty is trading between 5483-5510 for the last 1 hour and sustaining below 5490 should be firstly watched now because that will be strong indication of Pull Back Rally completion.