Following lines were told in Post-open Outlook(10-04-2012)
Next supports are as follows:-
1- 5175-5236(strong supports)
2- 5136-5160
Nifty is trading within above mentioned 1st strong support range for the last 3 sessions and forming daily new lows within range after higher levels selling,it is weakness signal.
Correction is on and its completion indications/confirmations are required yet. Let consolidation start bottom formation confirmation come then decisive up moves will be considered.
Today trading between 5191-5213 with some up moves from lower levels only and no clear intraday pattern yet,let it develop then will be updated.
Next supports are as follows:-
1- 5175-5236(strong supports)
2- 5136-5160
Nifty is trading within above mentioned 1st strong support range for the last 3 sessions and forming daily new lows within range after higher levels selling,it is weakness signal.
Correction is on and its completion indications/confirmations are required yet. Let consolidation start bottom formation confirmation come then decisive up moves will be considered.
Today trading between 5191-5213 with some up moves from lower levels only and no clear intraday pattern yet,let it develop then will be updated.