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Pre-Open Market Outlook(27-04-2011)

5th wave is on,All trends are up, Nifty retraced from 5900 in this month but rebounded also from 5700. Last one month range is 5700-5900 and good support as well as consolidation between 5850-5900 and next resistances are as follows:-

1- 5880-5912 (Genuine Selling on 21-04-2011.)
2- 5905-5944(Weak resistance)

As genuine selling between 5880-5912 therefore complete consolidation is required today to cross 5912 and once sustaining above 5912 will mean strong possibility of crossing all the resistances and begining of strong rally toward minimum 6120 and follow up buying today will open the gate today.

Positive global cues therefore Nifty will open and firstly trade within mentioned 1st resistance(5880-5912), as sentiment is heated therefore profit booking possibility will also be kept in mind.

As per my view Indian markets will consolidate in the coming couple of sessions and this time Nifty will cross 5940 and start journey toward minimum 6120. For precaution just watch sustaining above 5912.
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