Firstly Watch 7906 for final reaction of GST Passing
Mid-session Outlook(30-11-2015)
Although such most Bullish news of GST passing possibility in current session of Parliament but Indian markets are flat to negative since opening today. We are repeating following lines for keeping in mind which were told yesterday in "Bullish Flag Formation in last 9 months Correction suggesting Strong Rally":-
1- Although 11 Sessions range broken out on 27-11-2015 but on the back of sudden developments of most positive expectations of GST passing
2- selling patterns formations were also seen in last week
3- last 2 sessions up moves were on the back of strong Global markets and GST passing expectations
4- firstly follow up consolidation is required for sustaining above 11 sessions range highest(7906)
5- no confirmation of on going correction completion yet
6- Bull markets are tend to consolidate at higher levels therefore its possibility can not be ruled out because GST passing possibilities suddenly.
If Indian markets would have been technically prepared for fresh rally then have opened gap up more than 1% today after such Bullish news(GST) but flat to negative market today because higher levels consolidation was firstly required after selling 25 Nov and 26 Nov in previous week.
Expected that finally rally will remain continued but for immediate up trend firstly sustaining above 11 Sessions highest(7906) should be watched for final reaction of GST passing on Indian markets because selling patterns formations in previous week.