Pre-Closing Outlook(06-06-2012)
Nifty is more than 3% up today and we told only up moves and Pull Back Rally in all the 5 Outlooks during last 2 days:-
1- In Bounce Back after Double Bottom Support on 05-06-2012:
"more than 3 hours good consolidation are certainly positive for Bulls as well as generated rays of Pull Back Rally hopes"
2- In Pre-Closing Outlook(05-06-2012) on 05-06-2012:
"intraday consolidation patterns are also visible therefore up moves possibilities are still alive"
3- In Technical Analysis and Research For 06-06-2012 at 07:53 AM on 06-06-2012:
"intraday consolidation patterns are also visible therefore up moves possibilities are still alive"
4- In Post-open Outlook(06-06-2012) at 09:34 AM on 06-06-2012:
"Pull Back Rally continuation is expected after higher levels consolidations"
5- In Mid-session Outlook(06-06-2012) at 01:24 PM on 06-06-2012:
"Today intraday charts are showing consolidations formations therefore break out above 5020 is expected in the coming sessions"
5020 was told and today intraday high is at 5010.45.
As short term trend is heated therefore some volatility possibility can not be ruled out yesterday and finally sustaining above 5020 will mean more up moves to test 200-day SMA and its possibility is very much alive.