Pre-open Outlook(28-09-2012)
US markets closed with sufficient gains yesterday but Asian markets are almost flat therefore sentiment is quiet today morning and expected that Nifty will firstly trade and prepare for next moves between yesterday trading range(5639-5693)
Closing near intraday lower levels after Selling between 5680-5693 yesterday but intraday patterns are showing consolidation indications and intraday consolidation also between 5639-5670 on 26-09-2012 therefore sustaining beyond yesterday trading range(5639-5693) should be firstly watched today for:-
1- Forceful break down or sustaining below 5639 will be correction continuation confirmation with deeper correction possibility.
2- Firstly crossing above 5693 and after that forceful break out or sustaining above 5709 will be confirmation of fresh rally after correction completion.