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Pre-Open Market Outlook(14-03-2011)

All the Asian markets reacting Japanese earthquake with weak trading but not crashing like situation and it is sign of relief for all Asian markets. Indian markets will honour support of 5400 and will trade first in that range(5415-5450) in which traded after earthquake news on 11-03-2011.

Nifty got support 2 times at and above 5400 in most following negative news effected previous week:-

1- DMK support withdrawing news on Monday
2- Gaddafi attack on oil infrastructure news on Thursday
3- Japan earthquake news on Friday

Good support at 5400 and surviving because no cracking like situation in Asian markets therefore first of all 5400-5500 will be watched and if Japanese nuclear radiation and Libyan internal situation does not worsen then Nifty is expected above 5400 and coming sessions intraday trading patterns will decide Indian markets reaction on Global negative developments.

Last Friday range(5400-5500) is next trend decider and expected that Nifty will trade whole day within this range, trading patterns within this range will decide next Indian markets and break out of this range will give confirmation to next Indian markets.