After a rally last week, the Indian domestic market consolidated in a narrow range on yesterday. The Nifty50 slipped below it's crucial support placed at 10550 while opening at the level of 10,558.75 from its previous close of 10,553.00.
During its trading session it touched an interest low of 10,477.00 and closed at 10,524.00, 29 points down.
In doing so, it form a 'Hanging Man's kind of pattern on the daily charts. However, bulls managed to push the index back above 10,5pp levels towards the closing which is a positive sign.
Taking cues from global sentiment and previous domestic trade it is expected to see a positive trade in today's session.