Pre-Open Market Outlook(26-05-2011)
Technical Analysis and Researches have already been posted in following topics with 2 Charts therefore not being repeated:-
1- Technical Analysis of EOD Chart and Research For 26-05-2011
2- Nifty-Micro Analysis of Intra Day Chart For 26-05-2011
Conclusions
Indian markets slipped without intraday selling patterns and recent down moves were the impact of melting global markets also therefore Pull Back Rally possibility is strong and may begin any day. Trend reversal pattern of Falling wedge formation in 5th corrective wave therefore correction completion and fresh rally begining is also possible.
As consolidation patterns in the previous 2/3 sessions therefore up moves,Pull Back rally and positive market expected today.
US markets closed with minor gains,Asian markets are positive today morning and sentiment improved therefore positive opening will be seen, Previous sessions consolidations and Bullish trend reversal patterns formations therefore Green closing after whole day positive zone trading expected.
Technical Analysis and Researches have already been posted in following topics with 2 Charts therefore not being repeated:-
1- Technical Analysis of EOD Chart and Research For 26-05-2011
2- Nifty-Micro Analysis of Intra Day Chart For 26-05-2011
Conclusions
Indian markets slipped without intraday selling patterns and recent down moves were the impact of melting global markets also therefore Pull Back Rally possibility is strong and may begin any day. Trend reversal pattern of Falling wedge formation in 5th corrective wave therefore correction completion and fresh rally begining is also possible.
As consolidation patterns in the previous 2/3 sessions therefore up moves,Pull Back rally and positive market expected today.
US markets closed with minor gains,Asian markets are positive today morning and sentiment improved therefore positive opening will be seen, Previous sessions consolidations and Bullish trend reversal patterns formations therefore Green closing after whole day positive zone trading expected.