Fresh selling between 5857-5870
3 days range(5855-5945) broken down
New weekly low formation.
Closing near weekly lows
Ratios:
Nifty Put Call Ratio: 1.06
Nifty P/E Ratio: 22.18
Advances & Declines:
BSE ADVANCES : 1000
BSE DECLINES : 1966
NSE ADVANCES : 335
NSE DECLINES : 1092
Nifty Open Interest Changed Today:-
Nifty- 5800 CE(28APR2011)- +447550(+10.62%)
Nifty- 5800 PE(28APR2011)- +49450(+/+0.87%)
Nifty- 5900 CE(28APR2011)- +383250(+6.37%)
Nifty- 5900 PE(28APR2011)- -425450(-11.37%)
Closing :-
Nifty- closed at 5,842.00(-43.70 Points & -0.74%)
Sensex- closed at 19,451.45(-139.73 Points & -0.71%% )
CNX MIDCAP - closed at 8,288.30(-130.75 Points & -1.55%)
BSE SMALL CAP- closed at 8,772.55(-124.64 Points & -1.40%)
Nifty Intra Day Chart of Today:-
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| Just click on chart for its enlarged view |
Correction is confirm market is prepared for some more down moves. Expected that Nifty will move below 5800 and short term trend will also be down. Market slipped without force on 08-04-2011 therefore early correction completion may be expected but complete consolidation is required for any rally.
5855 will be watched and sustaining below will mean deeper corrction and its possibility can not be ruled out.