Pre-Open Market Outlook(02-06-2011)
When Indian markets were going to close near Day's highest and Month Highest then bullish views were not posted in
Pre-closing Outlook and following lines were told:-
"Whole day intraday trading range broken out(5565-5593) in last half hour and Nifty is closing near
day's highest but intraday trading patterns are mixed because both buying and selling indications from today intraday charts"
As sentiment was heated and very short term indicators were overbought after 268 points rally in 5 sessions therefore its correction was possible for cooling down of indicators and it will be seen today. As this possibility was also seen therefore folloing lines were
told two times yesterday:-
"Expected that Nifty will consolidate between 5540-5605 and may take few hours to few session in this process. Very much expected that Nifty will finally cross and sustain above 5605 in the
coming sessions/week and strong rally will be seen"
Intraday selling was already seen yesterday and negative cue from tanking global markets also therefore Red closing is possible after gap down opening today and next conclusive moves deciding range will be 5460-5605.
Expected that Nifty will prepare for next moves between 5485-5560 in the coming couple of sessions and follow up intraday moves will tell depth of down moves.
Let market prepare for next moves then will be told accordingly well in advanve before the begining of real moves in Pre,Post and Mid-session Outlooks.
Indian markets are down today but selling patterns were told in all the outlooks and also at the top of the day yesterday:-
Indian markets can not deceive to followers of my Intraday Outlooks
