Pull back rally is on and Nifty nicely consolidated between 4929-4995 on 30-08-2011 but sentiment is dampened today morning because all the Asian markets are in Red after US markets more than 1% down closing yesterday.
Indian markets may open weak and also firstly trade in negative zone but good consolidation on 30-08-2011 therefore market require complete distribution patterns for beginning of any down move.
Expected that Indian markets will consolidate and on going Pull Back Rally will remain continued but US Futures is also trading more than 65 points down at this moment therefore first couple of hours intraday patterns will be watched for next moves confirmation and susutaining beyond 4995 will be next moves confirmation as well.
Indian markets may open weak and also firstly trade in negative zone but good consolidation on 30-08-2011 therefore market require complete distribution patterns for beginning of any down move.
Expected that Indian markets will consolidate and on going Pull Back Rally will remain continued but US Futures is also trading more than 65 points down at this moment therefore first couple of hours intraday patterns will be watched for next moves confirmation and susutaining beyond 4995 will be next moves confirmation as well.