The markets put in a strong trend day on Tuesday, with the speed of the moves increasing over 5440 and 5480.
Generally what follows a trend day is a balancing act, and we would wait to see if the markets can consolidate in the upper end and build value again.What would not help at the open is the loss of a day in trading when other markets have been functioning. Conservatives in such cases would wait for the initial balance to be developed before attempting intra-day positions.
Nifty :
BankNifty :
-5481 and 5421 are intra day supports
-5521 needs to be watched in the opening prints.
-5593/ 5663 are tgt above.
-consolidation/ balancing would be good before any up move.
