Positive opening but lost all the gains within first 5 minutes and trading in Red despite Dow's futures is trading more than 100 points up and Asian markets are positive. Nifty is trading at the higher levels of support range(5695-5730). Consolidation for any up move is must and distribution today will lead toward below 5695.
Follow up buying or selling will be decided after next 2/3 hours trading. Next moves confirmation levels have already beeen explained in Weekly Outlook(02-05-2011 to 06-05-2011)
Indian markets have shown weakness and firstly watch break out of 5730-5780 for next moves confirmations