Almost following lines were told yesterday in Technical Analysis and Market Outlook(26-04-2013):-
1- high volatility in last hours and mentioned range broken out both sides. As technical positions reverses during such volatility and negative news flow(Tension with China and JPC report on Coal scam) also therefore view is cautious.
2- sustaining beyond 5876-5909 should be firstly watched tomorrow for next Short Term Trend confirmations.
Nifty is trading and preparing for next trend within mentioned range since opening today and could not sustain at higher levels. Following conclusions will be drawn after sustaining beyond mentioned range:-
1- Below 5876 will mean correction of previous 7 sessions strong rally.
2- Above 5909 will mean rally continuation with high possibility of strong rally after crossing on going resistance range(5820-5965).
1- high volatility in last hours and mentioned range broken out both sides. As technical positions reverses during such volatility and negative news flow(Tension with China and JPC report on Coal scam) also therefore view is cautious.
2- sustaining beyond 5876-5909 should be firstly watched tomorrow for next Short Term Trend confirmations.
Nifty is trading and preparing for next trend within mentioned range since opening today and could not sustain at higher levels. Following conclusions will be drawn after sustaining beyond mentioned range:-
1- Below 5876 will mean correction of previous 7 sessions strong rally.
2- Above 5909 will mean rally continuation with high possibility of strong rally after crossing on going resistance range(5820-5965).