NIFTY on 21st March

#NIFTY View on the 21^st of March.  Post the elections the Index scaled to new heights. However we saw supply dominating with increased volume on the day when the index scaled new level. Yesterday we saw a supply getting stronger with much more increased volume.  However the less than average spread indicates that the supply was absorbed to a large extent by demand. Otherwise the spread would have been much wider. Today we saw the index open in the positive side but dipped much lower later. Towards the latter half of the session the demand came in to take the index up and close much higher.  The volume dropped lower to indicate diminished selling. Also there is mismatch in the effort to result ratio. The increased volume has not produced the equivalent result.   9085 is the last price rejection level. Hence tomorrow could be an up day as the downside is getting limited. We can expect some consolidation between 9085 and 9220 levels before any higher level is attempted.