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Pre-Closing Outlook(30-08-2011)

When Indian markets were drifting down sharply then following line was told at 10:19:00 AM today:-

"Expected that market will recover finally after intraday consolidation"

As told 100% same happened and Indian markets moved up fast after whole day intraday consolidation and new intraday high also formed at 02:23PM today.

Intraday charts of today are suggesting whole day good consolidation at lower levels and Nifty is sustaining above 5966 also therefore it is pull back rally continuation confirmation.

Most Asian markets intraday charts are showing selling formation today therefore sentiment may be depressed tomorrow morning. As Indian markets are showing consolidation formations today therefore expected that Rally will remain continued in the coming sessions.