As most of the time intraday consolidation patterns yesterday therefore following line was told yesterday in Technical Analysis and Market Outlook(01-01-2013)
"Indian markets will be positive after Green opening tomorrow"
Positive zone trading after gap up opening today and Nifty is trading between 5936-5951 which is within strong resistance range(5904-5965). Although more consolidation is required for mentioned resistance range break out above 5965 but sentiment is heated today morning therefore profit booking possibility will also be kept in mind and following ranges will be firstly watched:-
1- For next immediate moves confirmation: 5936-5951.
2- For next rally confirmation: valid break out of 5965.
"Indian markets will be positive after Green opening tomorrow"
Positive zone trading after gap up opening today and Nifty is trading between 5936-5951 which is within strong resistance range(5904-5965). Although more consolidation is required for mentioned resistance range break out above 5965 but sentiment is heated today morning therefore profit booking possibility will also be kept in mind and following ranges will be firstly watched:-
1- For next immediate moves confirmation: 5936-5951.
2- For next rally confirmation: valid break out of 5965.