Post-closing Report(20-04-2011) & Tomorrow Outlook
Main features of today market are as follows
1- Long White Bullish Candle
2- All the indices closed with good gains near day's highest levels.
3- Confirmation of impulsive Sub Wave-G begining.
4- Good consolidation between 5760-5805
5- Rising Wedge(Bearish pattern) between 5825-5855.
Ratios:
Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(19-04-2011):21.65
Advances & Declines:
BSE ADVANCES : 1957
BSE DECLINES : 961
NSE ADVANCES : 1040
NSE DECLINES : 366
Nifty Open Interest Changed Today:-
Nifty- 5800 CE(28APR2011)- -2397300(-33.34%)
Nifty- 5800 PE(28APR2011)- +2133750(+43.39%)
Nifty- 5900 CE(28APR2011)- -568800(-7.79%)
Nifty- 5900 PE(28APR2011)- +2414500(+93.04%)
Closing :-
Nifty- closed at 5,851.65(+110.90 Points & +1.93%)
Sensex- closed at 19,470.98(+349.15 Points & +1.83% )
CNX MIDCAP - closed at 8,304.90(+100.15 Points & +1.22%)
BSE SMALL CAP- closed at 8,875.80(+113.15 Points & +1.29%)
Nifty-Micro Analysis of Intra Day Chart(20-04-2011):-
Tomorrow(21-04-2011) Outlook
Following 3 Bullish confirmations today:-
1- 'ABC' correction completion.
2- Sub Wave-F support at 38.2% retracement level.
3- Impulsive Sub Wave-G begining has confirmed.
Rally was confirmed yesterday on the basis of intra day base formations and lower levels support and since then only views were posted in all the outlooks. Intra day patterns of today have already been discussed in Nifty-Micro Analysis of Intra Day Chart and market require some more consolidation to cross following 2 resistances:-
1- 5860-5900
2- 5910-5940
As bullish rally is on therefore higher level consolidation is very much possible in the coming sessions and after that sharp rally will be seen after sustaining above 5640 and once sustaining above 5940 will mean 6120 fast.
Only watch sustaining above 5940 for sharp rally confirmation. As Sub Wave-F has completed correction at 38.2% retracement level yesterday therefore consolidation near about above mentioned resistances and rally above 5940 expected in the coming sessions.
Rally has been Triggered and sustaining above 5940 is last formality.
Main features of today market are as follows
1- Long White Bullish Candle
2- All the indices closed with good gains near day's highest levels.
3- Confirmation of impulsive Sub Wave-G begining.
4- Good consolidation between 5760-5805
5- Rising Wedge(Bearish pattern) between 5825-5855.
Ratios:
Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(19-04-2011):21.65
Advances & Declines:
BSE ADVANCES : 1957
BSE DECLINES : 961
NSE ADVANCES : 1040
NSE DECLINES : 366
Nifty Open Interest Changed Today:-
Nifty- 5800 CE(28APR2011)- -2397300(-33.34%)
Nifty- 5800 PE(28APR2011)- +2133750(+43.39%)
Nifty- 5900 CE(28APR2011)- -568800(-7.79%)
Nifty- 5900 PE(28APR2011)- +2414500(+93.04%)
Closing :-
Nifty- closed at 5,851.65(+110.90 Points & +1.93%)
Sensex- closed at 19,470.98(+349.15 Points & +1.83% )
CNX MIDCAP - closed at 8,304.90(+100.15 Points & +1.22%)
BSE SMALL CAP- closed at 8,875.80(+113.15 Points & +1.29%)
Nifty-Micro Analysis of Intra Day Chart(20-04-2011):-
 |
| Just click on chart for its enlarged view |
Following 3 Bullish confirmations today:-
1- 'ABC' correction completion.
2- Sub Wave-F support at 38.2% retracement level.
3- Impulsive Sub Wave-G begining has confirmed.
Rally was confirmed yesterday on the basis of intra day base formations and lower levels support and since then only views were posted in all the outlooks. Intra day patterns of today have already been discussed in Nifty-Micro Analysis of Intra Day Chart and market require some more consolidation to cross following 2 resistances:-
1- 5860-5900
2- 5910-5940
As bullish rally is on therefore higher level consolidation is very much possible in the coming sessions and after that sharp rally will be seen after sustaining above 5640 and once sustaining above 5940 will mean 6120 fast.
Only watch sustaining above 5940 for sharp rally confirmation. As Sub Wave-F has completed correction at 38.2% retracement level yesterday therefore consolidation near about above mentioned resistances and rally above 5940 expected in the coming sessions.
Rally has been Triggered and sustaining above 5940 is last formality.