Today market has given a surprise move on the upside. It is said that there was a freak trade.
Market has made Head and Shoulder Pattern and now if it breaks 5800 again with high
volumes, it will confirm the pattern.
However looking at the move on the upside, we need to closely watch for important
resistance at 5920 - 5950
Since there are no major news from domestic or international market, it is difficult for the
bullish action to sustain. However, if it breaks the resistance, it might touch 6150 - 6200
again. But to cross the all time high, there needs to be triggers which are missing as of now.
Results season is starting and some of the major results to watch out would be definitely
Infosys, which is happening on 11th October
Market has made Head and Shoulder Pattern and now if it breaks 5800 again with high
volumes, it will confirm the pattern.
However looking at the move on the upside, we need to closely watch for important
resistance at 5920 - 5950
Since there are no major news from domestic or international market, it is difficult for the
bullish action to sustain. However, if it breaks the resistance, it might touch 6150 - 6200
again. But to cross the all time high, there needs to be triggers which are missing as of now.
Results season is starting and some of the major results to watch out would be definitely
Infosys, which is happening on 11th October
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