Indian markets participated global markets Crude $7 down rally today. As up move was expected therefore following line was told in Pre-Open Market Outlook(13-04-2011):-
"recovery from lower levels after getting intra day support is possible today"
Although up move was expected after some consolidation but view changed after analysing first half intraday chart and following lines were told at 09:54AM in Post-open Outlook(13-04-2011):-
"Market showed strength and if Nifty sustains above 5800 today then correction completion will be considered."
As sentiment recovered after sudden Crude price fall therefore sentiment enthused and Indian markets sharply surged after higher levels consolidation and up move was above rising trend line with 5 intraday consolidation patterns. Mentioned all the points were told also in all the 5 outlooks which were posted during trading hours on 13-04-2011.
Intra Day Chart(13-04-2011)
Intra day consolidation at 5 levels and no distribution pattern on 13-04-2011.
"recovery from lower levels after getting intra day support is possible today"
Although up move was expected after some consolidation but view changed after analysing first half intraday chart and following lines were told at 09:54AM in Post-open Outlook(13-04-2011):-
"Market showed strength and if Nifty sustains above 5800 today then correction completion will be considered."
As sentiment recovered after sudden Crude price fall therefore sentiment enthused and Indian markets sharply surged after higher levels consolidation and up move was above rising trend line with 5 intraday consolidation patterns. Mentioned all the points were told also in all the 5 outlooks which were posted during trading hours on 13-04-2011.
Intra Day Chart(13-04-2011)
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