Pre-Open Market Outlook(09-03-2011)

Crude price slipping fuelled global markets rally and most markets closed positive yesterday. As amicable solution between UPA and DMK and confusion is over therefore Indian markets will respond positive developments with positive opening today and will trade rirst within next resistance range 5540-5580. Positive moves are totally news based today and trend will be decided after sustaining above or below crucial levels which are as follows:-

1- Next immediate resistance range is 5540-5580 and Nifty sustaining above 5580 will mean maximum possibility of long term and all trends turning up.
2- Sustaing below 5500 will be confirmation of down trend begining.

Crude rates and Middle-East news are creating lot of confusions and causing much voltality in all global markets therefore if Nifty sustais above yesterday range(5000-5025) then it will be strong indication of upmoves today. Yesterday intraday charts are suggesting consolidation and let market prepare today also then final conclusions will be drawn from intraday charts patterns today.

Expected that Nifty will whole day trade,prepare for next moves and close within  5520-5580 today. Yesterday consolidation and today follow up buying after will be strong indication of up moves.