Following lines were told in mid-night yesterday in Market Outlook(11-05-2011)
Supports at lower levels and resistances at higher levels therefore market will not move any side and first trade between 5525-5565 tomorrow.
"Trading range today at 11:05AM is:- 5525-5556.85"
As already told many times that Indian markets are range bound and preparing for next big moves and until this process will not complete till then Nifty will trade between 5450-5590 and this range break out will be next big moves confirmations.
Although Indian markets slipped from higher levels today but patterns are suggesting consolidations today. As per my view more preparation is required for any side break out because multiple resistances at higher levels and multiple supports at lower levels as well.
Let market prepare then break out and trending markets will be seen.
Supports at lower levels and resistances at higher levels therefore market will not move any side and first trade between 5525-5565 tomorrow.
"Trading range today at 11:05AM is:- 5525-5556.85"
As already told many times that Indian markets are range bound and preparing for next big moves and until this process will not complete till then Nifty will trade between 5450-5590 and this range break out will be next big moves confirmations.
Although Indian markets slipped from higher levels today but patterns are suggesting consolidations today. As per my view more preparation is required for any side break out because multiple resistances at higher levels and multiple supports at lower levels as well.
Let market prepare then break out and trending markets will be seen.