Although Nifty was more than 100 points up within 1st minute today but we were not Bullish and cautioned in previous Outlook as well as gave confirmation level also. Following lines were told today at 09:42:00 AM in Post-open Outlook:-
1- As Bearish markets remain highly volatile therefore today up moves may be a part of volatility also.
2- 11 Months huge Head and Shoulders patterns formation and its neckline(at 5477.20) was broken down on 19-08-2013,Nifty is hovering it around at this moment and firstly sustaining beyond it should be watched for next Long Term Trend confirmations.
Following line was told yesterday in Mid-session Outlook-3 and Pre-Closing Outlook:-
1- Expected that Nifty will not sustain above today highest(5417) and finally down moves will be seen below 5360.
1- As Bearish markets remain highly volatile therefore today up moves may be a part of volatility also.
2- 11 Months huge Head and Shoulders patterns formation and its neckline(at 5477.20) was broken down on 19-08-2013,Nifty is hovering it around at this moment and firstly sustaining beyond it should be watched for next Long Term Trend confirmations.
Following line was told yesterday in Mid-session Outlook-3 and Pre-Closing Outlook:-
1- Expected that Nifty will not sustain above today highest(5417) and finally down moves will be seen below 5360.
Today lowest is at 5361.10 after loosing more than 140 points today and steep fall will be seen after valid break down below 5360/5306 as well as its high possibility.