Technical Analysis,Researches & Tomorrow Market Outlook(28-07-2011)
Nifty-Intra Day Chart(27-Jul-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between- 5568-5583
2- Buying between 5522-5532
Conclusions
Selling at higher levels and minor buying at lower level as well therefore range bound market between 5522-5584 today and if global sentiments remain quiet tomorrow morning then Nifty will trade within mentioned today trading range.
Nifty-EOD Chart(27-Jul-2011):-
Conclusions (After Putting All Studies Together)
Nifty has moved below 5600 therefore Indian markets are again in 5 months old range(5200-5600) and sustaining beyond 5522-5584 will decide that yesterday started correction is complete at today lower levels support or deeper correction possibility below today's lows. Levels have been explained and next supports are as follows:-
1- 5497-5530
2- 5250-5350
Sustaining beyond 5497 must be watched and sustaining below it will be deeper correction confirmation because;-
1- 5497-5530 is strong support and sustaining beyond 5497 will be stong support breaking down.
2- Nifty got support 2 times at 5497 in last 22 sessions and sustaining beyond 5497 will be stong support failure.
3- Nifty traded between 5497-5740 in last 22 sessions and sustaining beyond 5497 will be 22 sessions range breaking down.
Saving or breaking down of crucial support at 5497 will decide next trend. Sustaining below 5497 will be confirmation of all trends turning down and deeper correction. Sustaing above 5497 will be revival of bullish markets hopes.
Just watch sustaining beyond 5497 for next big move confirmations.
Nifty-Intra Day Chart(27-Jul-2011):-
 |
| Just click on chart for its enlarged view |
1- Selling between- 5568-5583
2- Buying between 5522-5532
Conclusions
Selling at higher levels and minor buying at lower level as well therefore range bound market between 5522-5584 today and if global sentiments remain quiet tomorrow morning then Nifty will trade within mentioned today trading range.
Nifty-EOD Chart(27-Jul-2011):-
 |
| Just click on chart for its enlarged view |
Nifty has moved below 5600 therefore Indian markets are again in 5 months old range(5200-5600) and sustaining beyond 5522-5584 will decide that yesterday started correction is complete at today lower levels support or deeper correction possibility below today's lows. Levels have been explained and next supports are as follows:-
1- 5497-5530
2- 5250-5350
Sustaining beyond 5497 must be watched and sustaining below it will be deeper correction confirmation because;-
1- 5497-5530 is strong support and sustaining beyond 5497 will be stong support breaking down.
2- Nifty got support 2 times at 5497 in last 22 sessions and sustaining beyond 5497 will be stong support failure.
3- Nifty traded between 5497-5740 in last 22 sessions and sustaining beyond 5497 will be 22 sessions range breaking down.
Saving or breaking down of crucial support at 5497 will decide next trend. Sustaining below 5497 will be confirmation of all trends turning down and deeper correction. Sustaing above 5497 will be revival of bullish markets hopes.
Just watch sustaining beyond 5497 for next big move confirmations.