Post-Open Outlook(20-05-2010)

Little upmove was expected after yesterday last 1 hour consolidations signals and Heavy weight ONGC is up more than 8% on the back of petroleum rates hike news therefore trading range changed and Nifty is trading near 4960 immrdiately after opening. Good opening today after yesterday lower levels minor consolidations is positive signal but more consolidation requires for any sustained up move. If Nifty sustains above 4950 today then it will be strong consolidation signal and in that situation upmoves will be seen in coming sessions.