Although Nifty closed near the highest of the day yesterday but selling seen in last 3 sessions therefore we told following conclusive line yesterday in Technical Analysis and Market Outlook(03-04-2014):-
As was perceived same happened and Nifty could not sustain at higher levels and slipped immediately after positive opening and now .45% down. Both higher levels selling and lower levels consolidation seen in last 3 sessions therefore finally valid break out of last 3 sessions range(6675-6764) will be next immediate moves confirmations and should be firstly watched.
view is cautious and follow up moves with sustaining above today highest will also be firstly watched tomorrow for immediate up moves confirmations.
As was perceived same happened and Nifty could not sustain at higher levels and slipped immediately after positive opening and now .45% down. Both higher levels selling and lower levels consolidation seen in last 3 sessions therefore finally valid break out of last 3 sessions range(6675-6764) will be next immediate moves confirmations and should be firstly watched.