Pre-open Outlook(28-02-2012)
Asian markets are positive after the slipping of Crude by more than .50% therefore sentiment little improved today morning and Green opening will be seen. Sharp fall and panic bottom yesterday in ongoing correction and firstly its stopping as well as consolidation is required for correction completion confirmations.
Yesterday sharp fall was on the back of negative news flow but sentiment improved today morning and Intermediate term trend turning down confirmation is left also therefore firstly sustaining beyond 5340 has to be watched today and in the coming sessions because next big moves will depend on it.
Sentiment improved today morning therefore expected that Nifty will firstly trade between 5280-5340 and prepare for next moves. Break out of this range will firstly decide the fate of Intermediate term trend as well as will give first strong indication of correction continuation/completion.
Sustaining below 5280 will mean high Possibility of