Trends

Indian markets slipped after depressing Grecce news and weaker global cues yesterday but survived above 5200 and intermediate term trend is safe at present. Nifty got intraday support within 5204-5218 yesterday after some selling within 5255-5266 therefore expected that today intraday moves will remain capped within 5210-5250 amid flat global sentiments today.

Long term and intermediate term trends are up and short term is down after good selling between 5315-5387. It is confirm that Indian markets require complete consolidations for moving above 5315. Selling in the coming sessions will mean breaking down 5187 and that will mean Intermediate term trend turning downard resultant down move from 3 weeks to 3 months.

Derivative settlement today and expected that Nifty will not move below 5200 today after little positive opening. Expected that almost whole day trading will be between 5210-5250 and closing will also be within this range.