Technical Analysis,Research(EOD & Weekly) for current week and Micro Analysis of Intra Day Chart(30-05-2011) have already been explained in following topics:-
1- Nifty-Micro Analysis of Intra Day Chart For 31-05-2011
2- Weekly Outlook(May 30 to Jun 03,2011)
Conclusions (After Putting All Studies Together)
Nifty Black Candle today but it does not mean weak market and selling. Broader market was not weak but Mid Cap and Small Cap Indices closed positive with more than half pct gains. Above all conslusions from Micro Analysis of today intra Day Chart is showing consolidation patterns. Support and base formation seen between 5459-5473 today and Nifty sustaining above 5473 tomorrow will mean Bull gaining strength between 5459-5473 today for conquering next strong resistance(5500-5605)
Expected that Nifty will finally sustain above 5473 tomorrow and will open the gate of next resistance(5500-5605) and Indian markets will close positive tomorrow.
Only sustaining beyond 5459-5473 will be watched for next moves confirmations.
1- Nifty-Micro Analysis of Intra Day Chart For 31-05-2011
2- Weekly Outlook(May 30 to Jun 03,2011)
Conclusions (After Putting All Studies Together)
Nifty Black Candle today but it does not mean weak market and selling. Broader market was not weak but Mid Cap and Small Cap Indices closed positive with more than half pct gains. Above all conslusions from Micro Analysis of today intra Day Chart is showing consolidation patterns. Support and base formation seen between 5459-5473 today and Nifty sustaining above 5473 tomorrow will mean Bull gaining strength between 5459-5473 today for conquering next strong resistance(5500-5605)
Expected that Nifty will finally sustain above 5473 tomorrow and will open the gate of next resistance(5500-5605) and Indian markets will close positive tomorrow.
Only sustaining beyond 5459-5473 will be watched for next moves confirmations.