As soon as intraday selling developed today then it was updated in Post-open Outlook(09-11-2012) When Nifty was trading near the higher levels of today. As intraday selling was seen above 5733 therefore confirmation filters levels were posted in most of the previous 3 sessions outlooks.
It has been proved that the break out on 07-11-2012 was not valid and now Nifty is once again between 32 sessions sideways following 2 trading ranges:-
1- 5639-5733(most time trading range and its break out will be first indication)
2- 5583-5777/5815(final confirmation)
Market takes its own time in sideways moves and next trend will be according to final break out of above ranges. Market is slipping after higher levels 3 sessions selling and following supports should be watched now:-
1- 5650-5683(Gap support of 02-11-2012)
2- 5583-5610
It has been proved that the break out on 07-11-2012 was not valid and now Nifty is once again between 32 sessions sideways following 2 trading ranges:-
1- 5639-5733(most time trading range and its break out will be first indication)
2- 5583-5777/5815(final confirmation)
Market takes its own time in sideways moves and next trend will be according to final break out of above ranges. Market is slipping after higher levels 3 sessions selling and following supports should be watched now:-
1- 5650-5683(Gap support of 02-11-2012)
2- 5583-5610