Intra day correction,Nifty traded most of the time between 5885-5915 with selling signals and many pivotal stocks also showed intraday selling patterns today. Whole market or most of the market is not indicating selling but on the other hand suggesting buying. Final conclusion from today intra day patternd is that patterns are mixed and more preparation is required in the coming sessions for any side decisive moves.
Put Call Ratio :
1.03
Advances & Declines:
NSE ADVANCES :
1780
NSE DECLINES :
1167
BSE ADVANCES :
864
BSE DECLINES :
549
Nifty Open Interest Changed Today:-
Nifty- 5800 CE(28APR2011)- +178750(+4.34%)
Nifty- 5800 PE(28APR2011)- +443800(+8.99%)
Nifty- 5900 CE(28APR2011)- +691000(+14.96%)
Nifty- 5900 PE(28APR2011)- +507100(+18.51%)
Nifty- 6000 CE(28APR2011)- +561650(+9.24%)
Nifty- 6000 PE(28APR2011)- +68600(+3.84%)
Closing :-
Nifty- closed at 5891.75(-18.30 Points & -0.31%)
Sensex- closed at 19612.20(-74.62 Points & -0.38% )
CNX MIDCAP - closed at 8342.00(+36.00 Points & +0.43%)
BSE SMALL CAP- closed at 8786.94(+68.22 Points & +0.78%)
Nifty Intra Day Chart of Today:-
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| Just click on chart for its enlarged view |
Tomorrow(07-04-2011) Outlook
Mixed formations today and it means that Indian markets are not prepared for any side decisive moves and Nity will first prepare for next moves within 5885-5915.
Following range break out and sustaining beyond will give following conclusions:-
1 1st range is 5885-5915 and its break out will be strong confirmation of testing of next higher(5945)/lower(5855) levels.
2- 2nd range is 5855-5945 and its break out direction will be first derived from break out of above mentioned 1st range. Break out of this range will decide following next moves:-
1- Sustaining above 5945 will mean 6120 fast.
2- Sustaining below 5855 will mean deeper correction
As sentiment was heated,Indicators were overbought therefore very short term correction was expected and seen. Firstly trading between 5885-5915,finally consolidation between 5855-5945 and after that rally above 5915 expected in the coming sessions. As mixed patterns therefore for precaution break out of 5885-5915 will be watched also.
