Today Outlook and Technical Positions have already been posted in following topic with 1 Chart yesterday therefore not repeated today:-
Post-closing Report(20-04-2011) & Tomorrow Outlook
Asian markets are equally as strong as US and European markets delivered cues yesrerday and Indian markers will open gap up. Yesterday last one hour Rising Wedge(Bearish Pattern) Formation between 5825-5855 and Nifty will trade within immediate resistance range(5860-5940) therefore fresh consolidation and follow up buying is must to cross mentioned resistance.
Sentiment heated today morning therefore profit booking possibility will also be kept in mind. Indian markets are technically poised for rally above 5940 but market require fresh consolidation and follow up buying within mentioned resistance range. Today trading session is crucial and will react on TCS results during trading hours and will also prepare for next Monday post RIL results market. Following points will be kept in mind today:-
1- TCS results during trading hours today.
2- RIL results after trading hours today.
3- Yesterday last one hour Rising Wedge(Bearish Pattern) Formation between 5825-5855
4- Today trading between resistance range(5860-5940)
5- Sentiment heated today therefore profit booking possibility
6- Next 3 Days holidays.
Market will prepare for next week market today and may be volatile also therefore first 3/4 hours intraday patterns will be watched and then final conclusion will be drawn and will be posted accordingly. Rally above 5940 is very much possible in next week but today market will also be watched for next immediate move confirmations.
Post-closing Report(20-04-2011) & Tomorrow Outlook
Asian markets are equally as strong as US and European markets delivered cues yesrerday and Indian markers will open gap up. Yesterday last one hour Rising Wedge(Bearish Pattern) Formation between 5825-5855 and Nifty will trade within immediate resistance range(5860-5940) therefore fresh consolidation and follow up buying is must to cross mentioned resistance.
Sentiment heated today morning therefore profit booking possibility will also be kept in mind. Indian markets are technically poised for rally above 5940 but market require fresh consolidation and follow up buying within mentioned resistance range. Today trading session is crucial and will react on TCS results during trading hours and will also prepare for next Monday post RIL results market. Following points will be kept in mind today:-
1- TCS results during trading hours today.
2- RIL results after trading hours today.
3- Yesterday last one hour Rising Wedge(Bearish Pattern) Formation between 5825-5855
4- Today trading between resistance range(5860-5940)
5- Sentiment heated today therefore profit booking possibility
6- Next 3 Days holidays.
Market will prepare for next week market today and may be volatile also therefore first 3/4 hours intraday patterns will be watched and then final conclusion will be drawn and will be posted accordingly. Rally above 5940 is very much possible in next week but today market will also be watched for next immediate move confirmations.