Pre-Open Market Outlook(12-01-2011)
Indian markets closed with minor loss after huge last hour voltality and Candle is Doji which means indecision but intraday charts of yesterday are signalling consolidation. As weekly inflation surged sharply last thursday therefore widespread fear of lower levels expectations near 5200 is every where seen and sentiment is completely depressed. Situation is alarming but will be under control and after watching last 3 sessions consolidation patterns in intraday charts it is expected that Indian markets will start to move up.
AS yesterday charts are showing consolidation patterns therefore rally is very much expected and all the bullish expectations which has been posted in last 2 sessions will be seen in the coming sessions.
Next immediate trend confimations range is 5765-5835 and nifty will blast above 5835. My view is bullish and expecting sharp rally after sustaining above 5835 and for safety just telling that:-
Watch 5765-5835 for next big move confirmation and trade accordingly to its sustaining beyond.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
