Pre-Open Market Outlook(25-01-2011)
Following lines were clearly told in weekly analysis :-
"Firstly rally expected in the begining of coming week"
Detailed analysis which resulted today rally has already been explained in weekly yesterday and now next level is 5752,and sustaining above will mean short term trend turning up. Intermediate term trend will be up after sustaining above 5874. Resistances near 5752 and 5874 and after sustaining above 5874 will mean strong rally to test 6300 and above..
RBI credit policy will be announced today,As too much uncertainity and sentiment is completely confused therefore firstly huge voltality is possible today. Although last 6 sessions range has not broken out but yesterday intraday charts near 5752 suggesting consolidation patterns therefore expected that rally will be seen after sustaining above 5752 despite whatsoever RBI credit policy today.
Continuation of rally and Green closing expected today.