* I explain weekly chart, in explanation I explained from last four months but actually it was from last four weeks.
So Nifty price action shows - Slight down to consolidation bias
Market has trapped lower low formation so 23500/23600 will act as strong demand zone
Major constituent of Nifty
1. Finnifty - Consolidatiing after hitting all time high so, down to sideways for short term ( one to four week)
2. Nifty IT - Slight down and consolidation
3. Nifty oil and Gas - Down this previous demand zone of 10750
4. Nifty Auto - Follows almost Nifty and Nifty oil and gas structure so down to side ways
5. Nifty FMCG - At the bottom of consolidation so down chance are high
Over all sideways to down bias
So Nifty price action shows - Slight down to consolidation bias
Market has trapped lower low formation so 23500/23600 will act as strong demand zone
Major constituent of Nifty
1. Finnifty - Consolidatiing after hitting all time high so, down to sideways for short term ( one to four week)
2. Nifty IT - Slight down and consolidation
3. Nifty oil and Gas - Down this previous demand zone of 10750
4. Nifty Auto - Follows almost Nifty and Nifty oil and gas structure so down to side ways
5. Nifty FMCG - At the bottom of consolidation so down chance are high
Over all sideways to down bias
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