Mid-session Outlook(12-01-2012)
News based highly volatile market today. Although Market moved up sharply after improved IIP numbers but could not cross our given level of 4876 and today highest is at 4869.20.
Market plummeted after increased Inflation data because good intraday selling yesterday and it was being told continuously since yesterday. Good supports are at much lower levels near 4750 therefore next moves preparation range at present is 4750-4876 and follow up buying/selling between this range will give next moves confirmations.
Rally is on after good support at lower levels but fresh consolidation is required after yesterday good selling.
No gossiping and no guessing.For Whatsoever trend market will prepare that will be updated in Mid-Sessions outlooks from intraday charts analysis and conclusions.
Minor intraday support seen between 4812-4728 today but its validity and confirmations is required at this moment.