Trends

Nifty yesterday intraday charts are showing selling patterns therefore next resistance range is 5245-5275. Nifty consolidated within 5161-5195 on 19-04-2010 therefore it is support range. Multiple resistances at higher levels therefore complete consolidation required to cross resistances and move above them. As per my view moving below 5200 and retesting 5187 is most possible down move in the coming sessions and more down move possibility can also not be ignored.

Expected that Nifty will not cross 5275 and firstly retest 5187. This out look is being posted at 04:00 am therefore Asian markets cues are not available but expecting that Asian markets will be flat or negative today morning. US markets charts are also showing selling patterns therefore a very short term correction expected there also.

Flat to negative opening expected today. First trading should be within 5210-5255 and slippling below 5210 is expected. Finally Red closing expected today.