Market Outlook(05-07-2011)
EOD Chart analysis have already been explained yesterday in following topic therefore not being repeated today:-
Market Outlook(04-07-2011)
Nifty traded between 5606-5672 in last 3 sessions and technical positions within these 3 days are as follows:-
1- Selling between 5655-5672
2- Buying between 5600-5625
3- Mixed patterns between 5634-5660( Explained in Micro Analysis of Intra Day Chart For 05-07-2011)
Conclusions
Nifty traded More than 5 hours within 26 Nifty points narrow range and trading range was between 5634-5660 on 04-07-2011 but intraday patterns were mixed therefore Nifty will firstly trade within or little beyond this range today and sustaining beyond this range will be next moves first strong indication.
Consolidation between 5600-5672 and after that finally up moves above 5672 expected in the coming sessions but intraday trading patterns between 5600-5672 will be first watched also today because follow up buying/selling today will give confirmation to next decisive trend. As Long term up trend is in question therefore Nifty sustaining above 5672 will mean worst is over for Indian stock markets and then sharp rally will be seen.
EOD Chart analysis have already been explained yesterday in following topic therefore not being repeated today:-
Market Outlook(04-07-2011)
Nifty crossed 5600 after forceful rally and sustained above for the last 3 sessions. Nifty traded between 5606-5672 in last 3 sessions this range break out will give confirmation to:-
1- Break out of last 39 sessions range(5329-5604)
2- Long term trend turning up.
3- Completion of that 'ABC'correction which started on 05-11-2010 from 6339.
Nifty-Micro Analysis of 3 days Intra Day Chart(Jun 30 to Jul 04,2011)
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| Just click on chart for its enlarged view |
Nifty traded between 5606-5672 in last 3 sessions and technical positions within these 3 days are as follows:-
1- Selling between 5655-5672
2- Buying between 5600-5625
3- Mixed patterns between 5634-5660( Explained in Micro Analysis of Intra Day Chart For 05-07-2011)
Conclusions
Nifty traded More than 5 hours within 26 Nifty points narrow range and trading range was between 5634-5660 on 04-07-2011 but intraday patterns were mixed therefore Nifty will firstly trade within or little beyond this range today and sustaining beyond this range will be next moves first strong indication.
Consolidation between 5600-5672 and after that finally up moves above 5672 expected in the coming sessions but intraday trading patterns between 5600-5672 will be first watched also today because follow up buying/selling today will give confirmation to next decisive trend. As Long term up trend is in question therefore Nifty sustaining above 5672 will mean worst is over for Indian stock markets and then sharp rally will be seen.