Can you please elaborate this for a layman? To me it seems like a consolidation rather than downside.
Friday Mahurat Trading low in Nifty Future = 6316
Monday Trading Low in Nifty Future = 6282
Market making newer lows on intra day basis.
If there is no 'collective bullish sentiment' markets will only come down- not in one straight go but slowly till selling momentum picks up.
My views are only for Tuesday session assuming global or tomorrow Asian markets does not have a bullish run.
I do not have any idea what market will do on Wed or next week or next month, so my views are for day trading session and not for swing or positional trading.