Nifty Update

Nifty Daily.

Nifty in a Virtuous and Vicious Circle.

Monday's sharp sell off and today's moderate rise, has left Nifty in a chain of complex circumstances where on one hand we witnessed a steep fall and then a half hearted attempt by the bulls to regain their momentum. And the investor is left in a dilemma as to what's next for the Indian Benchmark Index.

Yes, Nifty seemed to have lost the ongoing upward momentum yesterday, but that sell off does not mean that the trend has reversed. It's just an indication that the bulls might have lost their strength as even today we saw the market falling from the days high. However, on the longer version we can just say that these can prove to signs of trend reversal which is still not confirmed.

Hence we currently stand on a road where the passengers do not know which path to follow. To give them the direction :
A close below 5920 will confirm U-turn for passenger, while a breakout above  6140 will make them continue their journey. Till then the journey will be at a halt and the passengers will be oscillating between these two levels just confirming their path ahead from bulls and bears.


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