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Post-open Outlook-2(19-12-2012)

Sentiment heated today morning due to strong Global cues and positive news(Lok Sabha approving of Companies Bill 2011 and Banking amendment Bill) from Parliament and gap up opening seen but market under performed immediately after opening therefore intraday correction is being seen. As Nifty traded in next resistance range(5935-5965) and some consolidation is also required therefore intraday correction confirmation is must  before next rally above 5965. Following levels should be firstly watched now:-

1- Next support range(5880-5905)
2- Next resistance range(5935-5965)

Expected that Nifty will prepare for next moves between 5880-5965 and some volatile moves may also be seen tomorrow after declaration of Gujarat elections results.
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