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Pre-Closing Outlook(23-05-2012)

When Nifty was trading the intraday highs of today then following line was told in Mid-session Outlook-2 today:-

Let market sustain above any crucial Resistance then decisive up moves will be considered otherwise only volatility

Nifty lost almost all intraday gains and again traded near about today lows and proved intraday volatilite markets for today.

Intraday support little above yoday lows seen  today and it is higher bottom formation also. In this manner both intraday support and intraday selling within 4807-4853 today therefore break out and sustaining beyond today trading range will be next moves confirmations and should be firstly watched now.