Following line was told in the Weekly Outlook(Feb 27 to Mar 02,2012) on 26-02-2012:-
Importance of 5340 was also told daily in whole of this week and Nifty hovered it around only this level and did not sustain below it also in this week.
We also told today for support at 5298 and Nifty traded whole day above it. Although selling at higher levels in this week but support also at lower levels and Intermediate term trend decider 5340 is intact therefore rally hopes after correction completion near 5340 are very much alive.
strong supports also between 5340-5415 therefore complete distribution is must for slipping below 5340.
Importance of 5340 was also told daily in whole of this week and Nifty hovered it around only this level and did not sustain below it also in this week.
We also told today for support at 5298 and Nifty traded whole day above it. Although selling at higher levels in this week but support also at lower levels and Intermediate term trend decider 5340 is intact therefore rally hopes after correction completion near 5340 are very much alive.