Following lines were told in Pre-closing Outlook(07-06-2011) yesterday at 03:05:00 PM:-
1- Although Indian markets are moving up since opening but lacking force therefore Nifty require more consolidations for sustaining above today last 2 hours trading range(5550-5570) and next resistance range(5580-5604)"
2- Nifty is not prepared for breaking out 5604 and will trade and prepare for next moves below 5580 some more time. As patterns are mixed therefore trading between 5550-5570 will the watched today and in the coming sessions for next moves confirmations.
All the Asian markets are weak today morning and mixed trading patterns between 5550-5570 in last 2 hours as well therefore Nifty will open weak below 5550. Indian markets are range bound between 5329-5605 for the last 27 sessions and immediate support,resistance and next moves preperation ranges are as follows:-
1- Next strong support range- 5459-5473
2- Next strong resistance range- 5580-5604
3- Next moves preperation range- 5480-5550
Mentioned above ranges will be watched for next moves preparations and confirmations but expected that Nifty will consolidate between mentioned above ranges and finally decisive rally above 5605 will be seen.
Weak opening and firstly trading between 5480-5550 will be seen. As Asian markets are tanking therefore expected that most of the time Nifty will trade and close in negative zone. Markets are not trending but completely range bound therefore next moves possibility can be understood from:-
1- Through intraday trading patterns preparation
2- Breaking out of crucial range- 5459-5605
Let Nifty prepare between 5480-5550 then final conclusions will be drawn from intraday trading patterns and also will be posted in Mid-session Outlooks.
1- Although Indian markets are moving up since opening but lacking force therefore Nifty require more consolidations for sustaining above today last 2 hours trading range(5550-5570) and next resistance range(5580-5604)"
2- Nifty is not prepared for breaking out 5604 and will trade and prepare for next moves below 5580 some more time. As patterns are mixed therefore trading between 5550-5570 will the watched today and in the coming sessions for next moves confirmations.
All the Asian markets are weak today morning and mixed trading patterns between 5550-5570 in last 2 hours as well therefore Nifty will open weak below 5550. Indian markets are range bound between 5329-5605 for the last 27 sessions and immediate support,resistance and next moves preperation ranges are as follows:-
1- Next strong support range- 5459-5473
2- Next strong resistance range- 5580-5604
3- Next moves preperation range- 5480-5550
Mentioned above ranges will be watched for next moves preparations and confirmations but expected that Nifty will consolidate between mentioned above ranges and finally decisive rally above 5605 will be seen.
Weak opening and firstly trading between 5480-5550 will be seen. As Asian markets are tanking therefore expected that most of the time Nifty will trade and close in negative zone. Markets are not trending but completely range bound therefore next moves possibility can be understood from:-
1- Through intraday trading patterns preparation
2- Breaking out of crucial range- 5459-5605
Let Nifty prepare between 5480-5550 then final conclusions will be drawn from intraday trading patterns and also will be posted in Mid-session Outlooks.