As last 4 hours intraday buying was seen on 22-07-2011 therefore up moves possibility was told in all the outlooks and NIfty moved up also today to 5651.85 despite Dow's Futures is more than 130 points down and all the Asian trading in markets deep Red.
Resistance seen at higher levels between 5640-5650 therefore short covering possibility between this range can not be ruled out and next up moves will be considered above 5650. Next expected trading range is 5600-5640 and sustainiing beyond this range will be next very short term move confirmations.
It has to be specify that Indian markets are outperforming all the global markets but will be the best to get confirmation through sustaining beyond 5600-5650.
Resistance seen at higher levels between 5640-5650 therefore short covering possibility between this range can not be ruled out and next up moves will be considered above 5650. Next expected trading range is 5600-5640 and sustainiing beyond this range will be next very short term move confirmations.
It has to be specify that Indian markets are outperforming all the global markets but will be the best to get confirmation through sustaining beyond 5600-5650.