Following line was told in Mid-session Outlook(02-03-2012)
sustaining above will be strong indication of rally after correction completion.
Nifty moved above 5380 but could not sustain and again slipped below therefore not given correction completion confirmation. Sustaining beyond following ranges should be watched for next moves confirmations:-
1- 5298-5380(Two days range with lower levels good support)(For first indication)
2- 5298-5458(Three days range with lower levels good support and higher levels good selling)(For confirmation)
Cautions approach is also required because market will be volatile and will react Assembly election results also results in next week.
sustaining above will be strong indication of rally after correction completion.
Nifty moved above 5380 but could not sustain and again slipped below therefore not given correction completion confirmation. Sustaining beyond following ranges should be watched for next moves confirmations:-
1- 5298-5380(Two days range with lower levels good support)(For first indication)
2- 5298-5458(Three days range with lower levels good support and higher levels good selling)(For confirmation)
Cautions approach is also required because market will be volatile and will react Assembly election results also results in next week.