All trends are up and March 2009 rally formed new top yesterday. Infosys quarterly results will be declared today and positive results will lead not only Software & IT sector but may also give upward break out to last 1 year Rising channel and Indian markets are technically well poised for it at this moment also.
Indian markets slipped form day's nigher levels after weak IIP numbers yesterday and traded whole day within 5362-5400 and intraday charts are showing mixed conclusions due yesterday IIP numbers infected sentiments. Indian markets are technically prepared for a rally and positive news from INFY may give sharp upmove also.
Quiet global cues today morning and Indian markets were news effected yesterday and will also news based today therefore will be better to get confirmations from break out of yesterday trading range despite all positive technical factors.
News based market today therefore will be better to get confirmation from yesterday range break out and sustaining beyond. Technically Indian markets are well prepared for break out of last one year Rising channel and sharp rally and sustaining above 5400 today will mean begining of that move.
Just now got INFY DISAPPOINTING infy NUMBERS THEREFORE YESTERDAY RANGE SHOULD BE USED FOR CONFIRMATION OF NEXT IMMEDIATE MOVES.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
