Indian markets consolidated within 5640-5690 whole day on 17-01-2011 and after analysis of intraday patterns following lines were told in Pre-Open Market Outlook(18-01-2011):-
1- intraday charts showing consolidation patterns within 5640-5690
2- consolidated within 5640-5690 yesterday therefore until Nifty will not sustain below 5640 after fresh selling patterns till then any down move will not be considered.
3- As per my view Indian markets are well prepared for bounce back/V-Shaped recovery/Pull Back Rally and that will be seen from any day in this week.
4- finally Green closing expected today.