Possibility of only bounce back was told and it was seen immediately after opening today. Testing possibility of 5672 was also told in almost all the last 2 days Outlooks and lowest formation at 5670.5 today. Hovering around 5672 was also today and immediate 30 points recovery from 5670.5 and Nifty is trading above 5700. Following line was also told today in Technical Analysis and Market Outlook(21-03-2013):-
some up moves also can not be ruled out after expected UPA Govt. favouring decision by Mulayam Singh Yadav today
As immediate relief to UPA Govt.from Mulayam Singh Yadav today and support not withdrawn therefore good recovery also from lower levels and Nifty is trading near about today higher levels.
As positive news flow today therefore some up moves can not be ruled out but multiple resistance at higher levels therefore follow up consolidation is required for any decisive rally and sustaining above 5745 should be firstly watched for the possibility of strong Pull Back Rally confirmations.
some up moves also can not be ruled out after expected UPA Govt. favouring decision by Mulayam Singh Yadav today
As immediate relief to UPA Govt.from Mulayam Singh Yadav today and support not withdrawn therefore good recovery also from lower levels and Nifty is trading near about today higher levels.
As positive news flow today therefore some up moves can not be ruled out but multiple resistance at higher levels therefore follow up consolidation is required for any decisive rally and sustaining above 5745 should be firstly watched for the possibility of strong Pull Back Rally confirmations.