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5250-5320 break out will decide Market Trend

Although all the global markets were weak but Indian markets were not told weak in Pre-open Outlook and trading range of 5250-5290 was given and Nifty is traded between this range(highest-5289.90 and lowest-5252.25) in first hour. Lower levels buying and higher levels selling seen in last 3 sessions and buying/selling ranges have already been explained following 2 topics yesterday:-

1- Nifty-Micro Analysis of 3 days Intra Day Chart(Jun 20 to Jun 22,2011)
2- Nifty-Micro Analysis of Intra Day Chart For 23-06-2011

Nifty traded between 5250-5320 in last 3 sessions with buying and selling within this range. Indian markets will prepare for next moves between this range and break out of this range will be next moves confirmation.

Let market prepare for next moves within mentioned range then next moves and break out direction will be will be predicted from intraday charts patterns of coming sessions.


Be Bullish or Bearish according to break out 5250-5320.
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