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"Indian Stock Markets" 

Pre-Open Market Outlook(29-03-2011)

Technical Positions and today Outlook and next possibilities have already been discussed in following topic yesterday  therefore not being repeated today:-

"Post-closing Report(28-03-2011) & Tomorrow Outlook"

Intraday chart was posted in Post-closing Report(28-03-2011) yesterday and in that chart yesterday intraday moves were divided in 2 parts:-

1- Buying within 5655-5680
2- Selling Indications within 5691-5703

 As very short term indicators are overbought,minor correction possibility can not be ruled out and selling indication at higher levels also yesterdy therefore fresh consolidations is required and Nifty will trade first within yesterday range. Global markets are little weak today and if it deepens also then Indian markets may slip but  Nifty will not sustain below 5580 in worst situations also.

Let indian markets trade within yesterday range and today intraday charts will decide:-

1- Continuation of rally after fresh consolidations or
2- Very short term correction
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