Monday, December 7, 2009

Consolidation continues. Ready to reach new high anytime ?!


On Friday, markets again made an attempt to scale 5150 levels, but could not sustain to that. The consolidation is continuing with markets slowly getting ready for the final up move.

The volume was very low when the market had the red day on friday and the next time markets make an attempt to scale 5150 levels, it would be able to break the barrier and reach 5180, 5210 levels immediately.

As of now it looks more like a buy on dips market.

Resistance levels : 5153, 5182, 5210

Support levels : 5082, 5066, 5052



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Happy Trading
www.tripleint.com

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