A deep red candle in Nifty

In the recent market activity, Nifty has shown resilience by not closing below 19310 or above 19580. Despite opening with a gap up, there was significant selling pressure observed from the 19600 levels, leading to a close within the downward channel. The current state of the market can be described as indecisive, as there is a lack of clear direction or trend.

Based on the large selling in Nifty, it is anticipated that the market will open with a small gap down starting tomorrow. The ultimate direction of the market will be determined by whether it closes below the 19300 level. Currently, the market is in a consolidation zone, indicating a period of stability. However, the pending upside moment has come to completion as of today.