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Mid-session Outlook(27-12-2012)

Although positive Asian markets and Green opening in Indian markets but we were not Bullish and told following line in 1st hour at 10:13:00 AM today:-

"As market has not shown required strength after Green opening today therefore view will start to become positive after sustaining above 5920"

Condition of sustaining above 5920 was told and Nifty could not move above 5917 after our above posting. 

More than 3 hours mixed intraday patterns between 5900-5917 yesterday and today again mixed intraday patterns between 5888-5917 with following technical positions;-

1- Selling between 5906-5917
2- Support between 5888-5895

As today intraday selling seen between and just below Previous resistance range(5910-5965) therefore this resistance strengthened today and complete consolidation is required for sustaining above 5965. Although strong up moves yesterday but we told following lines at  08:10 AM today and being repeated for next moves guidance:-

1- good supports between 5846-5865 in last 2 sessions
2- next and last resistance range(5910-5965) of on going rally. 
3- Now next moves preparation trading range is 5865-5965 in all types of sentiments and firstly trading within this range is expected in the coming couple of sessions