Post-open outlook(11-03-2011)
Following lines were told in Pre-closing outlook(10-03-2011):-
"Indian markets are also weak and trading within 5470-5500 with intraday support within 5470-5480 today"
Following lines were told in Pre-open outlook(11-03-2011):-
"Nifty traded whole day yesterday within 5470-5500 with support at lower levels"
Nifty is trading within 5470-5485 since opening today in most bearish sentiments. Asian markets are .75% to 1% down while Indian markets are .15% down at this moment. It is clear that Indian markets are outperforming global markets and be brarish only after sustaining below 5470.
Nifty traded whole day yesterday within 5470-5500 with support at lower levels and also trading within this range since opening today in most depressing sentiments. Next immediate trend confirmation range is 5470-5500 and Nifty is trading at the midle of this range at this moment. Although sentiment is most depressing and negative news flow is high but consolidations within 5500-5530 in the first 3 sessions of this week also therefore resistances above 5500 are not strong.
Watch 5470-5500 and Be Bullish or Bearish after breaking out and sustaining beyond.
Following lines were told in Pre-closing outlook(10-03-2011):-
"Indian markets are also weak and trading within 5470-5500 with intraday support within 5470-5480 today"
Following lines were told in Pre-open outlook(11-03-2011):-
"Nifty traded whole day yesterday within 5470-5500 with support at lower levels"
Nifty is trading within 5470-5485 since opening today in most bearish sentiments. Asian markets are .75% to 1% down while Indian markets are .15% down at this moment. It is clear that Indian markets are outperforming global markets and be brarish only after sustaining below 5470.
Nifty traded whole day yesterday within 5470-5500 with support at lower levels and also trading within this range since opening today in most depressing sentiments. Next immediate trend confirmation range is 5470-5500 and Nifty is trading at the midle of this range at this moment. Although sentiment is most depressing and negative news flow is high but consolidations within 5500-5530 in the first 3 sessions of this week also therefore resistances above 5500 are not strong.
Watch 5470-5500 and Be Bullish or Bearish after breaking out and sustaining beyond.