Following line was told in Weekly Outlook(May 30 to Jun 03,2011):-
Expected that Nifty will first trade and prepare for next moves between 5440-5500
Following line was told in Why range of 5500-5605 is Next Trend Deciding?:-
good selling between 5500-5605 in 9 previous sessions and this range is strong resistance.
As 5500-5605 is strong resistance therefore Nifty could not sustain within it after strong opening and slipped. Nifty is trading between mentioned range(5440-5500) for the last 2 hours and preparing for next decisive moves.
Let Indian market prepare for next moves and according to intraday charts formatiions it will be concluded that Nifty is crossing mentioned resistance range or not. Whenever final conclusions will be drawn then will be posted
Expected that Nifty will first trade and prepare for next moves between 5440-5500
Following line was told in Why range of 5500-5605 is Next Trend Deciding?:-
good selling between 5500-5605 in 9 previous sessions and this range is strong resistance.
As 5500-5605 is strong resistance therefore Nifty could not sustain within it after strong opening and slipped. Nifty is trading between mentioned range(5440-5500) for the last 2 hours and preparing for next decisive moves.
Let Indian market prepare for next moves and according to intraday charts formatiions it will be concluded that Nifty is crossing mentioned resistance range or not. Whenever final conclusions will be drawn then will be posted