Although Indian markets closed at the lowest of the day yesterday but down moves were in Bullish Falling channel with lower levels supports also therefore following line was told in both previous Outlooks yesterday:-
Huge gap down opening after most depressing global cues today but strong recovery from lower levels and now Nifty is trading 27 points up after 51 points down trading.
Only news based intraday volatility without too much technical positions formations will be understood at present. Some selling and buying seen in both previous sessions between 5826-5981 therefore sustaining beyond this range should be watched for next Long Term Trend first strong indication.
"rally continuation hopes are still alive"
Huge gap down opening after most depressing global cues today but strong recovery from lower levels and now Nifty is trading 27 points up after 51 points down trading.
Only news based intraday volatility without too much technical positions formations will be understood at present. Some selling and buying seen in both previous sessions between 5826-5981 therefore sustaining beyond this range should be watched for next Long Term Trend first strong indication.