Following line was told for today market in Technical Analysis,Researches & Market Outlook(23-08-2011)
As sentiment turned heated during last one hour of trading yesterday therefore market require some consolidation before any up move and slipping upto 4865 may be possible in consolidation precess otherwise continuation of yesterday started rally expected in the coming sessions.
Slipping possibility upto 4865 was told and Nifty has already slipped up 4876 today. Fresh consolidation was a demand before any up move and it has already been explained also.
Positive market is expected after some more consolidations and next upmove confirmation level is sustaining above 4891.