Correction was told daily in last week and also told weak Indian markets in those 7 topics which were posted for this week trading in last 3 days. Although Business News Channels were telling for positive IIP above 5.2% but Weak market was told in Post-open Outlook before the announcement of IIP Data when Nifty was at 5819.
Main features of today trading are as follows
1- Gap down
2- Trading Range- 5785-5830
3- Selling patterns between- 5792-5830
4- Panic selling by retailers after Japan Quake news therefore minor support possible in last 1 hour.
5- Red Bearish Candle
6- Closing near lows after whole day selling.
Ratios:
Nifty Put Call Ratio:0.98
Nifty P/E Ratio(08-04-2011):22.18
Advances & Declines
BSE ADVANCES :1110
BSE DECLINES :1786
NSE ADVANCES : 441
NSE DECLINES : 976
Nifty Open Interest Changed Today
Nifty- 5700 CE(28APR2011)- +126450(+4.83%)
Nifty- 5700 PE(28APR2011)- +466000(+7.20%)
Nifty- 5800 CE(28APR2011)- +874000(+19.43%)
Nifty- 5800 PE(28APR2011)- -398550(-7.33%)
Nifty- 5900 CE(28APR2011)- -55400(-0.87%)
Nifty- 5900 PE(28APR2011)- -532200(-16.30%)
Closing
Nifty- closed at 5,785.70(-56.30 Points & -0.96%)
Sensex- closed at 19,262.54(-188.91 Points & -0.97%)
CNX MIDCAP - closed at 8,229.95(-58.35 Points & -0.70%)
BSE SMALL CAP- closed at 8,709.91(-62.64 Points & -0.71%)
Nifty-Micro Analysis of Intra Day Chart(11-04-2011):-
13 Apr 2011 Outlook
Selling proved in previous week between 5855-5945 and follow up selling between 5792-5830 today and no consolidation pattern today except last 1 hour intraday support possibility due to retailers panic selling after Japan Quake news.
Opening will depend on global sentiments but expected that Nifty will finally sustain below 5800 and weak markets expected. Market require complete consolidation after mentioned selling and until that will not happen till then Indian markets will not move up.
Correction is on and let it complete then rally will begin therefore will be better to wait for completion of correction and consolidation process. Technicals and correction levels have already been posted therefore just click and go through following topic to understand Indian markets present technical positions:-
Firstly Correction and then Consolidation Before Decisive Rally
Main features of today trading are as follows
1- Gap down
2- Trading Range- 5785-5830
3- Selling patterns between- 5792-5830
4- Panic selling by retailers after Japan Quake news therefore minor support possible in last 1 hour.
5- Red Bearish Candle
6- Closing near lows after whole day selling.
Ratios:
Nifty Put Call Ratio:0.98
Nifty P/E Ratio(08-04-2011):22.18
Advances & Declines
BSE ADVANCES :1110
BSE DECLINES :1786
NSE ADVANCES : 441
NSE DECLINES : 976
Nifty Open Interest Changed Today
Nifty- 5700 CE(28APR2011)- +126450(+4.83%)
Nifty- 5700 PE(28APR2011)- +466000(+7.20%)
Nifty- 5800 CE(28APR2011)- +874000(+19.43%)
Nifty- 5800 PE(28APR2011)- -398550(-7.33%)
Nifty- 5900 CE(28APR2011)- -55400(-0.87%)
Nifty- 5900 PE(28APR2011)- -532200(-16.30%)
Closing
Nifty- closed at 5,785.70(-56.30 Points & -0.96%)
Sensex- closed at 19,262.54(-188.91 Points & -0.97%)
CNX MIDCAP - closed at 8,229.95(-58.35 Points & -0.70%)
BSE SMALL CAP- closed at 8,709.91(-62.64 Points & -0.71%)
Nifty-Micro Analysis of Intra Day Chart(11-04-2011):-
 |
| Just click on chart for its enlarged view |
Selling proved in previous week between 5855-5945 and follow up selling between 5792-5830 today and no consolidation pattern today except last 1 hour intraday support possibility due to retailers panic selling after Japan Quake news.
Opening will depend on global sentiments but expected that Nifty will finally sustain below 5800 and weak markets expected. Market require complete consolidation after mentioned selling and until that will not happen till then Indian markets will not move up.
Correction is on and let it complete then rally will begin therefore will be better to wait for completion of correction and consolidation process. Technicals and correction levels have already been posted therefore just click and go through following topic to understand Indian markets present technical positions:-
Firstly Correction and then Consolidation Before Decisive Rally