OTF have completely disregarded the 50 DMA. Looks like there is no buying support at that level.
- This could ultimately lead to the test of current session’s lows at 9925.
- Apparently Nifty is headed towards a Neutral/Normal day after registering an Open Auction Inside Range Outside value during the opening session
- The above statement is valid as long as 9973 Cash Level is not breached.
Not even making an attempt to test the value area from the second half of yesterday. Though a ledge like pattern appears to have formed around 9037. The balance of the second half would provide further clues.