Strong recovery and Nifty crossed crucial resistance range(5700-5900). Intra day charts of most of the Indices and pivotal stocks are showing consolidations patterns and up trend is safe today
Put Call Ratio : 1.09
Advances & Declines:-
NSE ADVANCES : 1257
NSE DECLINES : 177
BSE ADVANCES : 2454
BSE DECLINES : 473
Nifty Open Interest Changed Today:-
Nifty- 5800 CE(28APR2011)- -209950(-5.11%)
Nifty- 5800 PE(28APR2011)- +1213450(+36.21%)
Nifty- 5900 CE(28APR2011)- -582700(-15.40%)
Nifty- 5900 PE(28APR2011)- +1468150(+119.51%)
Closing :-
Nifty- closed at 5908.45(+82.40 Points & +1.41%)
Sensex- closed at 19701.73(+281.34 Points & +1.45% )
CNX MIDCAP- closed at 8226.70(+97.60 Points & +1.20%)
BSE SMALL CAP- closed at 8594.69(+236.50 Points & +2.83%)
Nifty Intra Day Chart of Today:-
Tomorrow(05-04-2011) Outlook:
It has been told many times that very short term indicators are overbought and sentiment is heated but until selling patterns will not develop minimum in intraday charts till then correction will not be possible. I again and again told more than 10 times for minimum 5900 and it clearly means that I am expeting levels above 5900.
Next strong resistance is between 6120-6180 but fresh consolidation is also a demand before next rally and it is expected near 5900 tomorrow and then next upmoves will begin within next 2/3 sessions. No selling formations today and if any negative news does not come out then upmoves may be seen in the last hour after some consolidations near 5900.
Put Call Ratio : 1.09
Advances & Declines:-
NSE ADVANCES : 1257
NSE DECLINES : 177
BSE ADVANCES : 2454
BSE DECLINES : 473
Nifty Open Interest Changed Today:-
Nifty- 5800 CE(28APR2011)- -209950(-5.11%)
Nifty- 5800 PE(28APR2011)- +1213450(+36.21%)
Nifty- 5900 CE(28APR2011)- -582700(-15.40%)
Nifty- 5900 PE(28APR2011)- +1468150(+119.51%)
Closing :-
Nifty- closed at 5908.45(+82.40 Points & +1.41%)
Sensex- closed at 19701.73(+281.34 Points & +1.45% )
CNX MIDCAP- closed at 8226.70(+97.60 Points & +1.20%)
BSE SMALL CAP- closed at 8594.69(+236.50 Points & +2.83%)
Nifty Intra Day Chart of Today:-
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| Just click on chart for its enlarged view |
It has been told many times that very short term indicators are overbought and sentiment is heated but until selling patterns will not develop minimum in intraday charts till then correction will not be possible. I again and again told more than 10 times for minimum 5900 and it clearly means that I am expeting levels above 5900.
Next strong resistance is between 6120-6180 but fresh consolidation is also a demand before next rally and it is expected near 5900 tomorrow and then next upmoves will begin within next 2/3 sessions. No selling formations today and if any negative news does not come out then upmoves may be seen in the last hour after some consolidations near 5900.