Mid-session outlook(15-03-2011)
Following lines were told in today Pre-Open Market Outlook:-
1- "Some buying was seen between 5410-5450 in last 2 sessions therefore trading within this range expected today after weak opening"
2- Watch 5400 in most depressing mood and if Nifty sustaind below 5400 then expect 5200 fast
Last 2 sessions buying range of 5410-5450 and Nifty did not sustained below this range today and recovered.Indian markets are only 1.0% down while Dow's futures is 200 points down,European market are 1.7% to 3.0% down and all Asian markets closed 2% to 3% down. Certainly Indian markets are out performing Global markets and also proving good support at 5400.
Fresh selling confirmation within 5400-5450 is required for moves below 5400. Sentiment most depressed but 5400 is holding also. Whole market is bearish therefore Nifty is not sustaining below 5400 and until short covering will not complete till then Nifty will not dip below 5400.
If nuclear radiation further rise then Nifty will first trade within or below 5400-5450 and then sustain below 5400 after fresh selling. Get down confirmation from sustaining below 5400 only.
Watch sustaining below 5400 for down move confirmation.
Following lines were told in today Pre-Open Market Outlook:-
1- "Some buying was seen between 5410-5450 in last 2 sessions therefore trading within this range expected today after weak opening"
2- Watch 5400 in most depressing mood and if Nifty sustaind below 5400 then expect 5200 fast
Last 2 sessions buying range of 5410-5450 and Nifty did not sustained below this range today and recovered.Indian markets are only 1.0% down while Dow's futures is 200 points down,European market are 1.7% to 3.0% down and all Asian markets closed 2% to 3% down. Certainly Indian markets are out performing Global markets and also proving good support at 5400.
Fresh selling confirmation within 5400-5450 is required for moves below 5400. Sentiment most depressed but 5400 is holding also. Whole market is bearish therefore Nifty is not sustaining below 5400 and until short covering will not complete till then Nifty will not dip below 5400.
If nuclear radiation further rise then Nifty will first trade within or below 5400-5450 and then sustain below 5400 after fresh selling. Get down confirmation from sustaining below 5400 only.
Watch sustaining below 5400 for down move confirmation.