Firstly Watch Crucial Levels amid Blasting Global Markets Today
Following lines were told at 03:31 AM on 24-05-2016 in "Firstly Watch sustaining beyond 7678 for much deeper correction confirmations":-
As both selling and consolidation were seen in previous 2 sessions therefore firstly valid break out of last supports range(7678-7730) of last 26 sessions should be watched for next big moves beginning confirmations.
Supports between 7678-7730 were updated in previous 2 Outlooks and Nifty could not slip below it as well as closed above it in both previous sessions.
As all the Global markets have started blasting in last 19 hours therefore in reaction strong gap up opening will be seen in Indian markets also. 27 Sessions sideways market between 7678-7992 and next immediate resistances within this range are as follows:-
Let Nifty sustain above 7853 then strong rally will be seen otherwise today strong market will be blasting Global cues led only. As immediate supports and resistances are between 7678-7853 therefore next strong one sided decisive moves will be seen only after sustaining beyond this range because that will be confirmation of Long Term Trend. Nifty is hovering around Long Term Trend decider 200 Day EMA(today at 7780) for the last 27 sessions. Sustaining below 7678 will mean broken down confirmation and sustaining above 7853 will be first strong indication of broken out therefore sustaining beyond firstly these crucial levels(7678-7853) should be watched in the coming sessions amid blasting Global cues led markets today.