Pre-Open Market Outlook(13-04-2011)
All the Asian markets were down yesterday and SGX Nifty is trading 50 points down today therefore anyone can say for today weak Indian markets after getting negative cues but today weakness was proved at 05:45PM on 11-04-2011 through Nifty-Micro Analysis of Intra Day Chart(11-04-2011). Today weak Indian market was clearly told even before the declaration of FII & DII trading figures on that day.
Whatsoever will happen today,has alreay been told in all the outlooks posted on 11-04-2011 now today first intraday levels have to be decided which are as follows:-
1st trading range- 5730-5760
Technicals and correction levels have already been posted therefore just click following link which was posted on 10-04-2011 and go through topic to understand Indian markets present technical positions and retracement levels:-
Firstly Correction and then Consolidation Before Decisive Rally
Correction is on and in this process next possibilitis and watching levels are as follows:-
1- Expected that Nifty will not finally sustain below 5561
2- 200 Day EMA is today at 5610 and also expected that Nifty will not sustain below it.
3- 100 Day EMA is today at 5669 and will be watched for supports getting possibility.
4- 55 Day EMA is today at 5647 and also will be watched for supports getting possibility.
5- 1st Gap will give support(5529-5561)
Short term trend is down. Long term and Intermediate term trendS are up and will be down after sustaining below 5610 and 5647 respectively.
Weak market and negative closing expected with intra day voltality and recovery from lower levels after getting intra day support is possible today.
Following lines have been told many times since previous week and being repeated again:-
Correction is on,it will take its own time in this process,let it complete and consolidation start then up moves and long positions will be considered.
All the Asian markets were down yesterday and SGX Nifty is trading 50 points down today therefore anyone can say for today weak Indian markets after getting negative cues but today weakness was proved at 05:45PM on 11-04-2011 through Nifty-Micro Analysis of Intra Day Chart(11-04-2011). Today weak Indian market was clearly told even before the declaration of FII & DII trading figures on that day.
Whatsoever will happen today,has alreay been told in all the outlooks posted on 11-04-2011 now today first intraday levels have to be decided which are as follows:-
1st trading range- 5730-5760
Technicals and correction levels have already been posted therefore just click following link which was posted on 10-04-2011 and go through topic to understand Indian markets present technical positions and retracement levels:-
Firstly Correction and then Consolidation Before Decisive Rally
Correction is on and in this process next possibilitis and watching levels are as follows:-
1- Expected that Nifty will not finally sustain below 5561
2- 200 Day EMA is today at 5610 and also expected that Nifty will not sustain below it.
3- 100 Day EMA is today at 5669 and will be watched for supports getting possibility.
4- 55 Day EMA is today at 5647 and also will be watched for supports getting possibility.
5- 1st Gap will give support(5529-5561)
Short term trend is down. Long term and Intermediate term trendS are up and will be down after sustaining below 5610 and 5647 respectively.
Weak market and negative closing expected with intra day voltality and recovery from lower levels after getting intra day support is possible today.
Following lines have been told many times since previous week and being repeated again:-
Correction is on,it will take its own time in this process,let it complete and consolidation start then up moves and long positions will be considered.