Following 2 resistance ranges were updated on 19-05-2014 in Sideways Market between 7082-7563:-
1- Selling between 7358-7432
2- Selling between 7450-7563
Indian markets sharply up immediately up immediately after opening and outperformed Global cues also. Nifty crossed both resistance ranges(7287and 7320) and tested above mentioned 1st resistance range but retraced also after high formation at 7365.35. As some selling also seen at higher levels today therefore view is cautious despite good recovery today.
1- Selling between 7358-7432
2- Selling between 7450-7563
Indian markets sharply up immediately up immediately after opening and outperformed Global cues also. Nifty crossed both resistance ranges(7287and 7320) and tested above mentioned 1st resistance range but retraced also after high formation at 7365.35. As some selling also seen at higher levels today therefore view is cautious despite good recovery today.