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Pre-Closing Outlook(16-11-2011)

Crucial support range(5010-5100) survival indication and Nifty could not sustained below it as well as bounced after getting intraday support at lower levels. It should be kept in mind that today fast recovery from intraday lower levels was on the back on Dow's Futures which jumped more that 100 points in last 3 hours also.

Although good intraday up move after lower levels support but selling formation also at higher levels also today. All trends are down and and just watch sustaining beyond 5010 because that will be confirmation of strong support range(5010-5100) survival.