Dow's Futures is more than 150 points down today therefore sentiment is depressed and all the Asian markets closed in deep Red today.Indian markets are could not survived and Nifty slipped and trading below 5400 also.
As soon as selling started to develop then it was informed and following line was clearly told at 09:52 AM today in Post-open Outlook(23-05-2011):-
"Weak opening and first half hour intraday charts selling patterns"
As sentiment is news based and completely depressed therefore sustaining below 5400 require more confirmations. Nifty is trading between 5375-5400 for the last 3 hours and dipping below 4375 will mean begining of deep down and sustaining above 5400 will mean survival of bullush markets hopes.
As soon as selling started to develop then it was informed and following line was clearly told at 09:52 AM today in Post-open Outlook(23-05-2011):-
"Weak opening and first half hour intraday charts selling patterns"
As sentiment is news based and completely depressed therefore sustaining below 5400 require more confirmations. Nifty is trading between 5375-5400 for the last 3 hours and dipping below 4375 will mean begining of deep down and sustaining above 5400 will mean survival of bullush markets hopes.