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Mid-session Outlook-2(04-07-2011)

Indian markets under performed Asian markets and could not sustained at higher levels therefore showing selling at higher levels. Nifty consolidated between 5600-5640 in 2 previous sessions. Nifty again got intraday support between 5634-5642 today therefore 5600-5642 support range. Selling seen between 5655-5672 today and last Friday.

Mixed trading positions between 5600-4672 in 2 sessions therefore Nifty is trading between this range since opening today. Let market prepare then confirmation will be come according to intraday patterns.