Post-open Outlook(11-04-2016)
Following lines were told yesterday in "7518-7644 Will decide the Fate of on going Post Budget Rally Correction":-
1- good selling was seen between 7552-7569
2- some down will be seen despite last Friday closing near the higher levels of the day.
3- As both supports and resistances between 7518-7644 and finally this range will decide the fate of on going Post Budget Rally correction
Nifty honoured our above analysis in first 40 minutes in following manner today:-
1- Good selling between 7552-7569 was told and Nifty could not sustain above it as well as slipped below it.
2- Down was told yesterday after Green closing of all US and European markets last Friday and down moves are being seen in Indian markets today despite most Asian markets positive zone trading with more than 1.4% up moves in Chinese markets.
As both supports and resistances between 7518-7644 and finally this range will decide trend therefore should be first watched now.