Almost same following lines were told in both previous Outlooks:-
"As more than 5 hours consolidation between 5380-5397 on 21-08-2012 and sustaining below 5380 will be deeper correction confirmation therefore should be firstly watched today"
Although Nifty slipped but could not sustain below 5380 and recovered from 5371 as well as trading little below and above 5380 for the last 2 hours. Tooday negative zone trading is the result of depressing global cues and today intraday sentiment is also affected by Supreme Court clean chit to P Chidambaram therefore sentiment and technical positions are mixed today.
Next short and intermediate term trend confirmation will be sustaining beyond 5371-5397 and should be firstly watched in next week.
"As more than 5 hours consolidation between 5380-5397 on 21-08-2012 and sustaining below 5380 will be deeper correction confirmation therefore should be firstly watched today"
Although Nifty slipped but could not sustain below 5380 and recovered from 5371 as well as trading little below and above 5380 for the last 2 hours. Tooday negative zone trading is the result of depressing global cues and today intraday sentiment is also affected by Supreme Court clean chit to P Chidambaram therefore sentiment and technical positions are mixed today.
Next short and intermediate term trend confirmation will be sustaining beyond 5371-5397 and should be firstly watched in next week.