Following conclusive line was told yesterday in Technical Analysis and Market Outlook(15-05-2014):-
Nifty moved above 7131 but could not sustain above and slip below it and traded at 6107. Expected that Nifty will trade and prepare for tomorrow moves between 7082-7152 and valid break out of this range will be first strong signal of post Election results next immediate trend in Indian markets.
As consolidation yesterday therefore finally rally is expected after Election results tomorrow.
sustaining above 7131 will be correction completion and rally continuation confirmation.
Nifty moved above 7131 but could not sustain above and slip below it and traded at 6107. Expected that Nifty will trade and prepare for tomorrow moves between 7082-7152 and valid break out of this range will be first strong signal of post Election results next immediate trend in Indian markets.
As consolidation yesterday therefore finally rally is expected after Election results tomorrow.