Market is as follows after today closing;-
Intraday correction and recovery from lower levels seen today. Most Indices patterns and most pivotal stocks are showing consolidations but some stocks intraday patterns showed selling formations also today.
Nifty trading range- 5857-5920
Nifty Candle- Bullish Hammer
Nifty Support and Base formation between- 5857-5870
Nifty Intra day trading patterns- Consolidation
Put Call Ratio : 1.06
Advances & Declines:
NSE ADVANCES : 987
NSE DECLINES : 436
BSE ADVANCES : 1998
BSE DECLINES : 944
Nifty Open Interest Changed Today:
Nifty- 5800 CE(28APR2011)- +503550(+13.09%)
Nifty- 5800 PE(28APR2011)- +689600(+15.38%)
Nifty- 5900 CE(28APR2011)- +1774750(+58.56%)
Nifty- 5900 PE(28APR2011)- +171250 (+6.47%)
Closing :-
Nifty- closed at 5,910.05(+1.60 Points & +0.03%)
Sensex- closed at 19,686.82(-14.91 Points & -0.08% )
CNX MIDCAP - closed at 8,306.00(+79.30 Points & +0.96%)
BSE SMALL CAP- closed at 8,712.92(+118.23 Points & +1.38%)
Nifty Intra Day Chart of Today:-
Tomorrow(06-04-2011) Outlook
As base formation between 5857-5870 today therefore this range is first support and next immediate resistance is Falling Trend line(shown in EOD chart),after this next resistance range is 6120-6180. 5911 was technical target and that has been achieved and after crossing falling trend line fast blasting rally will be seen.
2-EOD chart showing Falling Trend line
As selling in some pivotal stocks today therefore today range(5855-5920) will be watched first of all tomorrow and its break out will decide:
1- Next upmove after today Intra Day correction or
2- Fresh rally after some deeper correction if Nifty slips below 5855
Nifty closed near the top of the day with Bullish Hammer Candle today. It is intraday correction completion signal and follow up buying tomorrow will mean fresh strong rally in the coming sessions after completion of today correction and crossing falling trend line.
Intraday correction and recovery from lower levels seen today. Most Indices patterns and most pivotal stocks are showing consolidations but some stocks intraday patterns showed selling formations also today.
Nifty trading range- 5857-5920
Nifty Candle- Bullish Hammer
Nifty Support and Base formation between- 5857-5870
Nifty Intra day trading patterns- Consolidation
Put Call Ratio : 1.06
Advances & Declines:
NSE ADVANCES : 987
NSE DECLINES : 436
BSE ADVANCES : 1998
BSE DECLINES : 944
Nifty Open Interest Changed Today:
Nifty- 5800 CE(28APR2011)- +503550(+13.09%)
Nifty- 5800 PE(28APR2011)- +689600(+15.38%)
Nifty- 5900 CE(28APR2011)- +1774750(+58.56%)
Nifty- 5900 PE(28APR2011)- +171250 (+6.47%)
Closing :-
Nifty- closed at 5,910.05(+1.60 Points & +0.03%)
Sensex- closed at 19,686.82(-14.91 Points & -0.08% )
CNX MIDCAP - closed at 8,306.00(+79.30 Points & +0.96%)
BSE SMALL CAP- closed at 8,712.92(+118.23 Points & +1.38%)
Nifty Intra Day Chart of Today:-
 |
| Just click on chart for its enlarged view |
As base formation between 5857-5870 today therefore this range is first support and next immediate resistance is Falling Trend line(shown in EOD chart),after this next resistance range is 6120-6180. 5911 was technical target and that has been achieved and after crossing falling trend line fast blasting rally will be seen.
2-EOD chart showing Falling Trend line
 |
| Just click on chart for its enlarged view |
1- Next upmove after today Intra Day correction or
2- Fresh rally after some deeper correction if Nifty slips below 5855
Nifty closed near the top of the day with Bullish Hammer Candle today. It is intraday correction completion signal and follow up buying tomorrow will mean fresh strong rally in the coming sessions after completion of today correction and crossing falling trend line.