Only range bound trading is being projected since last Friday and it is being seen also. Whatsoever happened today and yesterday,all that was told in following lines on 01-07-2011
Pre-closing Outlook(01-07-2011)- Expected that Nifty will trade and consolidate between 5600-5700 on next Monday/Tuesday and after that next rally will resume.
Indian markets recovered from lower levels today but positive indications were projected in following words when Nifty was trading near today lows:-
Mid-session Outlook(05-07-2011)- Although Indian markets are in Red since opening today but intraday patterns are not suggesting selling.
Indian markets traded most of the time in Red today but intraday patterns are showing good consolidations at lower levels therefore rally expectations are alive despite being Red closing today.