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Pre-closing Outlook(31-05-2011)

All are Bullish today but today Bullish market was told minimum 3 times in this Blog yesterday and following lines were also told:-

Expected that Nifty will finally sustain above 5473 tomorrow and will open the gate of next resistance(5500-5605) and Indian markets will close positive tomorrow.

Today low is at 5489.70. Bulls broken the gate and conquered 71% land of  bears(5500-5605) today and expected that will first take rest and gain strength between 5540-5600 tomorrow.

As sentiment turned heated in last 1 hour therefore matket will first consolidate between 5540-5600 tomorrow and after that rally above 5605 will be seen within couple of sessions.