Global cues are positive today morning therefore gap up opening will be seen but Indian markets consolidated whole day yesterday therefore consolidations and up moves were clearly told 3 times during trading hours in following words yesterday:-
1- At 09:30 AM in Post-open Outlook:-
"First 10 minutes intraday moves are showing positive market indications"
2- At 01:18 PM in Mid-session Outlook:-
"Intra day patterns are suggesting consolidations today at lower levels and up moves from here possibilities turns higher now"
3- At 03:05 PM in Pre-closing Outlook;-
"Clear lower levels consolidation patterns between 5500-5525 today"
Following lines were told after closing of market in Nifty-Micro Analysis of Intra Day Chart For 29-06-2011
"Clear lower levels consolidation patterns between 5500-5525 today and whole day intraday patterns are also suggesting consolidations therefore moving and sustaining above 5552 possibility turned higher today"
Short term and Intermediate term trends are up today and only Long term trend is down,which will be up after sustaining above 200 Day EMA(5577). Nifty has almost cleared resistances upto 5555 and remaining resistance between 5555-5600 is also strong ang market require consolidation between or beyond this range for sustaining and rally above 5600.
Daily MACD turned positive. ROC and RSI also have moved into positive zone and seeing up ward,but very short term indicators are overboufgt therefore suggesting minor correction.
As Nifty has retraced 3 times from 200 Day EMA and 5600 earlier,again testing near by levels in heated sentiments today therefore profit booking possibility also can not be ruled out.
Nifty-EOD Chart(28-06-2011):-
Crucial and next trend deciding resistance range is 5555-5600 and Nifty will trade between and beyond this range today and tomorrow. Consolidation will mean beginning of blasting 250 points rally and distribution will mean again returning into 36 sessions range bounding market.
As good consolidations and Bullish hammer candle yesterday just below mentioned resistance range(5555-5600) therefore crossing and sustaining above 5600 possibility is higher after fresh consolidations in the coming sessions.
Let final conclusions come after intraday charts analysis then next moves will be declated as today upmove was told during trading hours yesterday.
5555-5605 is next moves first confirmation range.
1- At 09:30 AM in Post-open Outlook:-
"First 10 minutes intraday moves are showing positive market indications"
2- At 01:18 PM in Mid-session Outlook:-
"Intra day patterns are suggesting consolidations today at lower levels and up moves from here possibilities turns higher now"
3- At 03:05 PM in Pre-closing Outlook;-
"Clear lower levels consolidation patterns between 5500-5525 today"
Following lines were told after closing of market in Nifty-Micro Analysis of Intra Day Chart For 29-06-2011
"Clear lower levels consolidation patterns between 5500-5525 today and whole day intraday patterns are also suggesting consolidations therefore moving and sustaining above 5552 possibility turned higher today"
Short term and Intermediate term trends are up today and only Long term trend is down,which will be up after sustaining above 200 Day EMA(5577). Nifty has almost cleared resistances upto 5555 and remaining resistance between 5555-5600 is also strong ang market require consolidation between or beyond this range for sustaining and rally above 5600.
Daily MACD turned positive. ROC and RSI also have moved into positive zone and seeing up ward,but very short term indicators are overboufgt therefore suggesting minor correction.
As Nifty has retraced 3 times from 200 Day EMA and 5600 earlier,again testing near by levels in heated sentiments today therefore profit booking possibility also can not be ruled out.
Nifty-EOD Chart(28-06-2011):-
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| Just click on chart for its enlarged view |
As good consolidations and Bullish hammer candle yesterday just below mentioned resistance range(5555-5600) therefore crossing and sustaining above 5600 possibility is higher after fresh consolidations in the coming sessions.
Let final conclusions come after intraday charts analysis then next moves will be declated as today upmove was told during trading hours yesterday.
5555-5605 is next moves first confirmation range.