Following lines were told today in Technical Analysis and Market Outlook(13-09-2012):-
1- As intraday charts of yesterday are showing selling formations therefore consolidations are must today for sustaining and rally above 5450.
2- firstly trading is expected between 5394-5450.
3- follow up buying/selling today will decide next decisive moves beyond mentioned strong resistance range.
First 5 hours trading today between 5,447.45-5,421.85 with minor supports at lower levels but higher levels selling formations also. Slipping below 5422 will mean sharp down moves because below it selling formations yesterday.
1- As intraday charts of yesterday are showing selling formations therefore consolidations are must today for sustaining and rally above 5450.
2- firstly trading is expected between 5394-5450.
3- follow up buying/selling today will decide next decisive moves beyond mentioned strong resistance range.
First 5 hours trading today between 5,447.45-5,421.85 with minor supports at lower levels but higher levels selling formations also. Slipping below 5422 will mean sharp down moves because below it selling formations yesterday.