Hi,
Some different logic....
Our markets are moving on tune of US market now a days.
Day before yesterday US market was down but still Nifty manage with 1.5% gain yesterday.
Yesterday US market was up 2.7%.
Hence we are also up by 1.2%.
So we are currently align with US 2.7% gain (1.5% +1.2% today)
If it has to move further then it should cross 50DMA 5152. This will make some rally.
To continue this US has to give again good closure today.
IIP numbers are out 15min back but still we have not seen massive surge. It will come after 50DMA only due to shortcovering ( & not due to IIP)
My Tukka....I may be wrong....
Some different logic....
Our markets are moving on tune of US market now a days.
Day before yesterday US market was down but still Nifty manage with 1.5% gain yesterday.
Yesterday US market was up 2.7%.
Hence we are also up by 1.2%.
So we are currently align with US 2.7% gain (1.5% +1.2% today)
If it has to move further then it should cross 50DMA 5152. This will make some rally.
To continue this US has to give again good closure today.
IIP numbers are out 15min back but still we have not seen massive surge. It will come after 50DMA only due to shortcovering ( & not due to IIP)
My Tukka....I may be wrong....
We are at same stage as last Friday.
Last Friday also market could not 5150 & US fall got it
down last Monday....