Strong recovery after 02:00PM today but When Indian markets were trading near the lower levels of today then following lines were told in Mid-session Outlook(07-05-2012):-
1- intraday consolidation patterns as well as intraday supports at lower levels between 4990-5000.
2- Certainly market require complete consolidation for any decisive up move and now further down moves will not be considered until Nifty will not sustain below 4990.
3- sustaining above 4990 will mean minimum Pull Back Rally.
Although whole global sentiment was most depressed but we projected consolidations and minimum Pull Back Rally and it is being seen also after more than 125 points recovery of Nifty.
Firstly Watch sustaining beyond Long Term Trend decider 200-Day SMA(Today at 5117) for next trend confirmations amid crashing Global markets.
1- intraday consolidation patterns as well as intraday supports at lower levels between 4990-5000.
2- Certainly market require complete consolidation for any decisive up move and now further down moves will not be considered until Nifty will not sustain below 4990.
3- sustaining above 4990 will mean minimum Pull Back Rally.
Although whole global sentiment was most depressed but we projected consolidations and minimum Pull Back Rally and it is being seen also after more than 125 points recovery of Nifty.
Firstly Watch sustaining beyond Long Term Trend decider 200-Day SMA(Today at 5117) for next trend confirmations amid crashing Global markets.