Pre-Open Market Outlook(04-01-2011)
All trends are up. Nifty traded with most heated sentiments within 6154-6178 yesterday and intraday charts are showing genuine selling formations therefore consolidation is must for sustaining above 6178. All the global markets closed with strong gains and Us markets are also trading more than 1% up at this moment therefore positive opening expected today but Nifty will not sustain above 6178.
Short term indicators are overbought and yesterday intraday charts genuine selling patterns therefore slipping below 6154 will be seen and Red closing expected today despite most bullish global sentiments.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
