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Mid-session Outlook-2(02-12-2011)

4950 broken out but without force therefore sustaining above is must for next very short term up move confirmation. As Nifty reversed from 4980 yesterday therefore fresh and complete consolidation is required for between 4950-4980 for a decisive break out of yesterday range.

Market is preparing for next decisive moves and it will take its own time between yesterday trading range. Let market prepare and final conclusions come then will be updated accordingly from intraday charts analysis.

Waiting for fresh decisive moves confirmations because Nifty faced resistance at 5000 yesterday.