Dow, Futures was trading +35 in the morning but now -25 and all the Asian markets slipped from intraday higher levels therefore Indian markets also could not hold at intra day higher levels and slipped.
4843 was told to watch and Nifty is hovering around it since opening today. Nifty will prepare for next moves between 4798-4891 and this range break out will be net moves confirmation. Pull Back rally is possible and its reasons have already been explained in following topic:-
Pull Back Rally Possibility from 4843
Lower levels consolidation between 4798-4830 was seen last Friday and follow up buying today is must for crossing last Friday selling range(4856-4891) and sustaining above 4891. Let Indian markets prepare for next moves then next moves confirmations will be possible from intraday charts formations.
4843 was told to watch and Nifty is hovering around it since opening today. Nifty will prepare for next moves between 4798-4891 and this range break out will be net moves confirmation. Pull Back rally is possible and its reasons have already been explained in following topic:-
Pull Back Rally Possibility from 4843
Lower levels consolidation between 4798-4830 was seen last Friday and follow up buying today is must for crossing last Friday selling range(4856-4891) and sustaining above 4891. Let Indian markets prepare for next moves then next moves confirmations will be possible from intraday charts formations.