Weekly Outlook(Jun 27 to Jul 01,2011)
Technical Analysis and Research of EOD,Micro Analysis of Nifty Intra Day Charts,Technical Positions,next possibilities have already been explained in following 5 topics with 4 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 27-06-2011
Nifty- EOD Chart(24-06-2011):-
Nifty was range bound between 5329-5604 in 34 sessions but this range broken down and gave strong bearish indications after 141 Nifty points sharp fall on 20-06-2011. Nifty again turned range bound after 151 Nifty points surge on 24-06-2011 and main features are as follows:-
1- 35 sessions range bound market now.
2- Strong resistance between 5480-5604 (within range).
3- Gap support(on 24-06-2011) between 5330-5343 (within range).
4- Strong support between 5250-533o (below range)
5- Nifty closed almost in the middle of range last Friday
6- Nifty closed above falling resistance trend line from 5604.
Conclusions (After Putting All Studies Together)
Long term and Intermediate term trends are down. Short term trend turned up and Nifty closed well above 18 months Rising trend line after last Friday rally therefore Indian markets are well poised for any side break out of last 35 sessions range.
Good consolidation and support below 5329 therefore Nifty will not easily dip below it and on the same count strong resistances between 5480-5604 also therefore Nifty will not enter in this range immediately.
Expected that Nifty will trade first between 5390-5460 in the coming couple of sessions and prepare for next moves. Indian markets are in range bound mode and preparing for blasting one sided moves within 5329-5604. Let market break out and sustain beyond then long term trending market will be seen. As Whipsaws(False signals) seen below 5329 on 20-06-2011 therefore 5 break out confirmation points have been posted in following topic. Just click link and go through:-
3 Whipsaws(False signals) in Indian markets on 20-06-2011
Within range bound markets possibilities have been discussed above and telling beyond range will be guesing only therefore will not be updated at this moment. Let market prepare for next moves then will be told according to confirmations from intraday charts analysis as up moves and bounce back were told minimum 5 times before the begining of last Friday rally.
Indian markets retraced after cracking down and again trading within 35 sessions range. It is confirm that Indian markets will blast and one sided trending market will be seen after genuine break out of this range. First strong indication of next moves will be sustaining beyond 5360-5477.
Technical Analysis and Research of EOD,Micro Analysis of Nifty Intra Day Charts,Technical Positions,next possibilities have already been explained in following 5 topics with 4 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 27-06-2011
Nifty- EOD Chart(24-06-2011):-
 |
| Just click on chart for its enlarged view |
1- 35 sessions range bound market now.
2- Strong resistance between 5480-5604 (within range).
3- Gap support(on 24-06-2011) between 5330-5343 (within range).
4- Strong support between 5250-533o (below range)
5- Nifty closed almost in the middle of range last Friday
6- Nifty closed above falling resistance trend line from 5604.
Conclusions (After Putting All Studies Together)
Long term and Intermediate term trends are down. Short term trend turned up and Nifty closed well above 18 months Rising trend line after last Friday rally therefore Indian markets are well poised for any side break out of last 35 sessions range.
Good consolidation and support below 5329 therefore Nifty will not easily dip below it and on the same count strong resistances between 5480-5604 also therefore Nifty will not enter in this range immediately.
Expected that Nifty will trade first between 5390-5460 in the coming couple of sessions and prepare for next moves. Indian markets are in range bound mode and preparing for blasting one sided moves within 5329-5604. Let market break out and sustain beyond then long term trending market will be seen. As Whipsaws(False signals) seen below 5329 on 20-06-2011 therefore 5 break out confirmation points have been posted in following topic. Just click link and go through:-
3 Whipsaws(False signals) in Indian markets on 20-06-2011
Within range bound markets possibilities have been discussed above and telling beyond range will be guesing only therefore will not be updated at this moment. Let market prepare for next moves then will be told according to confirmations from intraday charts analysis as up moves and bounce back were told minimum 5 times before the begining of last Friday rally.
Indian markets retraced after cracking down and again trading within 35 sessions range. It is confirm that Indian markets will blast and one sided trending market will be seen after genuine break out of this range. First strong indication of next moves will be sustaining beyond 5360-5477.