Mid-session Outlook(03-01-2014)
Whole day negative zone trading after gap down opening but lower levels supports and indication of consolidation also today. As 7 sessions trading range broken down forcefully yesterday therefore complete follow up consolidation is required for any sustained up moves. As supports above 6172 today therefore firstly sustaining it beyond will give next immediate moves confirmation. Expected that Nifty will pass some more sessions between 6130-6260 for the preparation of next trend. As supports above 6172 today therefore valid break out of 6172-6260 will give next moves first indication.