Pre-closing Outlook(18-07-2011)

Nifty traded most of the time between 5561-5595 with higher levels selling indications and lower levels buying signals. In fact market is not prepared for any side move therefore did not tanked despite deep Red European markets opening.

Global sentiment is bearish therefore slipping possibility can not be ruled out after higher levels selling indications today. and next strong moves confirmation will be sustaining beyond last 2 sessions trading range(5561-5595).

Although last 2 sessions Red closing but view is not bearish because lower levels consolidation signals in last 2 sessions.