When Indian markets were trading near today's lows then lines were told in Post-open Outlook(14-07-2011):-
As good consolidation between 5557-5575 yesterday therefore sustaining below is must and will be watched also today for next down moves confirmations despite Mumbai blasts.
Nifty recovered and trading above after intraday support between 5542-5550 and intraday patterns are suggesting consolidations. Next moves confirmation range is sustaining beyond 5542-5575 and outlook is positive despite Red trading since morning today.