July IIP at 0.1% vs 3.7% (YoY)
Although Indian markets slipped from intraday higher levels after minor profit booking at higher levels but intraday patterns are indicating consolidation formations also. Indian markets are reacting today announced IIP data as well as preparing for post RBI Credit Policy moves on 17-09-2012.
All trends are up and Nifty is trading within strong resistance range(5380-5450),its break out will form next big moves. Forceful break out or sustaining beyond of today 15 points intraday trading range(5402-5417) will give first signal of mentioned resistance range break out direction therefore should be firstly watched.
Although Indian markets slipped from intraday higher levels after minor profit booking at higher levels but intraday patterns are indicating consolidation formations also. Indian markets are reacting today announced IIP data as well as preparing for post RBI Credit Policy moves on 17-09-2012.
All trends are up and Nifty is trading within strong resistance range(5380-5450),its break out will form next big moves. Forceful break out or sustaining beyond of today 15 points intraday trading range(5402-5417) will give first signal of mentioned resistance range break out direction therefore should be firstly watched.