Mid-session Outlook(11-03-2016)
As lower levels supports and some consolidation in last hours yesterday therefore Post Budget Rally continuation above yesterday highest(7547.10) was told yesterday in "Post Budget Rally continuation after follow up consolidation" and it was seen also with 56 points rally up to 7543.95 in first hour today.
As ECB news led European markets huge down moves and high volatility in US markets as well as Next resistances between 7500-7530 therefore following line was told today at 08:57 AM in "Sideways market for FOMC big Moves" and must be kept in mind:-
Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves.
Although Nifty is now trading at 7512 after gaining 25 points but still we are saying for confirmations though above given levels.