Although most depressing sentiment today morning due to steep fall in most of the Global markets but Indian markets opened positive therefore out performance by Indian markets and we told following line at 09:41 AM in Post-open Outlook(28-03-2013):-
"firstly sustaining beyond 5600(psychological level) should be watched for next immediate move confirmation"
Nifty could not test 5600 and recovered from 5604.85 as well as some support also seen at lower levels and it is 1st sign of consolidation but many factors are suggesting Bearish markets therefore only Bounce Back possibility will be considered at this moment . Follow up moves and firstly sustaining beyond 5600 should be watched for next immediate move confirmation.
"firstly sustaining beyond 5600(psychological level) should be watched for next immediate move confirmation"
Nifty could not test 5600 and recovered from 5604.85 as well as some support also seen at lower levels and it is 1st sign of consolidation but many factors are suggesting Bearish markets therefore only Bounce Back possibility will be considered at this moment . Follow up moves and firstly sustaining beyond 5600 should be watched for next immediate move confirmation.