Indian markets are more than 1% up in first 2 sessions of 2012 and proved our following topic accurate which was posted on 29-12-2012. Just click following topic link and understand technical reasons of on going rally which was started in Dec 2011:-
Following line has also proved accurate which was told yesterday in Technical Analysis and Market Outlook(02-01-2013)
Although today up moves were expected after some more consolidations but sentiment turned strong after positive global markets today morning and higher levels consolidation will be seen now after gap up opening today.
As some more consolidation is required therefore fresh long positions should be created after intraday correction completion.
Following line has also proved accurate which was told yesterday in Technical Analysis and Market Outlook(02-01-2013)
Rally continuation above 5965 is finally expected after 21 sessions sideways correction completion
Although today up moves were expected after some more consolidations but sentiment turned strong after positive global markets today morning and higher levels consolidation will be seen now after gap up opening today.
As some more consolidation is required therefore fresh long positions should be created after intraday correction completion.