Nifty forcefully crossed Long Term Trend decider 200 Day EMA(today at 5731) yesterday and most time negative zone trading today after 594 points rally in 5 sessions therefore today trading will be understood only technical correction. As indicators are overbought therefore 1/2 sessions intraday correction is very much possible and being seen today but It is confirm that complete selling patterns are required for sustaining below 5731.
Nifty traded 3%(5902) above of 200 Day EMA(today at 5731) which is confirmation level of Long Term Trend turning up and firstly sustaining beyond 5902 should be watched in the coming 2/3 sessions for:-
1- 100% Confirmaton of all trends turning up above 5902 or
2- 1st Indication of again decisive down moves below 5902 but confirmation will be after sustaining below 5731.
Nifty traded 3%(5902) above of 200 Day EMA(today at 5731) which is confirmation level of Long Term Trend turning up and firstly sustaining beyond 5902 should be watched in the coming 2/3 sessions for:-
1- 100% Confirmaton of all trends turning up above 5902 or
2- 1st Indication of again decisive down moves below 5902 but confirmation will be after sustaining below 5731.