It was told 5 times in last 3 sessions that Nifty will cross 5520,it happed and Nifty closed 5546 yesterday.
Short term and intermediate term trends are up and long term trend is down. Long term trend will be up after sustaining above 200-Day EMA(today at 5616). 5640-5850 is strong resistance range. Market require complete consolidation and will take its own full time to cross 5850. It is confirm that crossing 5850 will mean removal of most bearish technical positions and Indian markets will zoom up above 5850.
Coming couple of sessions will decide that Indian markets are preparing for Union Budget 2011 below or within mentioned resistance range(5640-5850) and it will also be tried to project post Budget Indian markets moves before its tabelling in Parliament on the basis of intraday charts formations next week. This fact can be verified from my orkut.com profle that I told on 25-02-2010 before Bubget 2010:-
"WHATSOEVER MAY THE BUDGET 2010 BUT RALLY WILL BE SEEN AFTER BUDGET-2010 AND NIFTY WILL TEST 5150 IN MARCH 2010"
All very well know that my above post budget-2010 projection was prooved 100% accurate.
Small intraday corrections will be seen before any up move but Indian markets require sufficient selling patterns for any down moves and whenever it will happen then will be told well in advanve before any down moves begining on the basis on intraday charts patterns.
200-Day EMA(today at 5616) tesing is possible within coming of sessions and Positive closing expected after positive opening today.
Short term and intermediate term trends are up and long term trend is down. Long term trend will be up after sustaining above 200-Day EMA(today at 5616). 5640-5850 is strong resistance range. Market require complete consolidation and will take its own full time to cross 5850. It is confirm that crossing 5850 will mean removal of most bearish technical positions and Indian markets will zoom up above 5850.
Coming couple of sessions will decide that Indian markets are preparing for Union Budget 2011 below or within mentioned resistance range(5640-5850) and it will also be tried to project post Budget Indian markets moves before its tabelling in Parliament on the basis of intraday charts formations next week. This fact can be verified from my orkut.com profle that I told on 25-02-2010 before Bubget 2010:-
"WHATSOEVER MAY THE BUDGET 2010 BUT RALLY WILL BE SEEN AFTER BUDGET-2010 AND NIFTY WILL TEST 5150 IN MARCH 2010"
All very well know that my above post budget-2010 projection was prooved 100% accurate.
Small intraday corrections will be seen before any up move but Indian markets require sufficient selling patterns for any down moves and whenever it will happen then will be told well in advanve before any down moves begining on the basis on intraday charts patterns.
200-Day EMA(today at 5616) tesing is possible within coming of sessions and Positive closing expected after positive opening today.