| ||||||||||||||||
| ||||||||||||||||
Indian Stock Markets Closing Reports(11-Jul-2011)
Main features of today trading are as follows
1- Black Candle.
2- Nifty got support at 5600 again
3- Most of the Indices in Red.
Ratios
Nifty Put Call Ratio: 0.99
Nifty P/E Ratio(12-07-2011): 20.67
Advances & Declines
BSE ADVANCES : 1235
BSE DECLINES : 1631
NSE ADVANCES : 529
NSE DECLINES : 858
Nifty Open Interest Changed Today
Nifty- 5600 CE(Jul)- +113150(+2.26%)
Nifty- 5600 PE(Jul)- -526550(-8.35%)
Nifty- 5700 CE(Jul)- +1155900(+17.66%)
Nifty- 5700 PE(Jul)- -270450 (-7.54%)
Closing
Nifty- closed at 5,616.10(-44.55 Points & -0.79%)
Sensex- closed at 18,721.39(-136.65 Points & -0.72% )
CNX MIDCAP - closed at 8,097.70(-18.20 Points & -0.22%)
BSE SMALL CAP- closed at 8,339.88(-35.26 Points & -0.42%)
1- Black Candle.
2- Nifty got support at 5600 again
3- Most of the Indices in Red.
Ratios
Nifty Put Call Ratio: 0.99
Nifty P/E Ratio(12-07-2011): 20.67
Advances & Declines
BSE ADVANCES : 1235
BSE DECLINES : 1631
NSE ADVANCES : 529
NSE DECLINES : 858
Nifty Open Interest Changed Today
Nifty- 5600 CE(Jul)- +113150(+2.26%)
Nifty- 5600 PE(Jul)- -526550(-8.35%)
Nifty- 5700 CE(Jul)- +1155900(+17.66%)
Nifty- 5700 PE(Jul)- -270450 (-7.54%)
Closing
Nifty- closed at 5,616.10(-44.55 Points & -0.79%)
Sensex- closed at 18,721.39(-136.65 Points & -0.72% )
CNX MIDCAP - closed at 8,097.70(-18.20 Points & -0.22%)
BSE SMALL CAP- closed at 8,339.88(-35.26 Points & -0.42%)
Nifty Spot-Levels & Trading Strategy for 12-07-2011
Nifty Spot-Levels
R3 5696
R2 5674
R1 5645
Avg 5623
S1 5594
S2 5572
S3 5543
Nifty Spot-Trading Strategy
H6 5667 Trgt 2
H5 5655 Trgt 1
H4 5644 Long breakout
H3 5630 Go Short
H2 5625
H1 5620
L1 5611
L2 5606
L3 5601 Long
L4 5587 Short Breakout
L5 5576 Trgt 1
L6 5564 Trgt 2
R3 5696
R2 5674
R1 5645
Avg 5623
S1 5594
S2 5572
S3 5543
Nifty Spot-Trading Strategy
H6 5667 Trgt 2
H5 5655 Trgt 1
H4 5644 Long breakout
H3 5630 Go Short
H2 5625
H1 5620
L1 5611
L2 5606
L3 5601 Long
L4 5587 Short Breakout
L5 5576 Trgt 1
L6 5564 Trgt 2
Nifty(Jul Fut)-Levels & Trading Strategy for 12-07-2011
Nifty(Jul Fut)-Levels
R3 5703
R2 5681
R1 5649
Avg 5627
S1 5595
S2 5573
S3 5541
Nifty(Jul Fut)-Trading Strategy
H6 5671 Trgt 2
H5 5658 Trgt 1
H4 5646 Long breakout
H3 5631 Go Short
H2 5626
H1 5621
L1 5612
L2 5607
L3 5602 Long
L4 5587 Short Breakout
L5 5575 Trgt 1
L6 5562 Trgt 2
R3 5703
R2 5681
R1 5649
Avg 5627
S1 5595
S2 5573
S3 5541
Nifty(Jul Fut)-Trading Strategy
H6 5671 Trgt 2
H5 5658 Trgt 1
H4 5646 Long breakout
H3 5631 Go Short
H2 5626
H1 5621
L1 5612
L2 5607
L3 5602 Long
L4 5587 Short Breakout
L5 5575 Trgt 1
L6 5562 Trgt 2
Bank Nifty(Jul Fut)-Levels & Trading Strategy for 12-07-2011
Bank Nifty(Jul Fut)-Levels
R3 11423
R2 11359
R1 11249
Avg 11185
S1 11075
S2 11011
S3 10901
Bank Nifty(Jul Fut)-Trading Strategy
H6 11314 Trgt 2
H5 11275 Trgt 1
H4 11235 Long breakout
H3 11187 Go Short
H2 11171
H1 11155
L1 11124
L2 11108
L3 11092 Long
L4 11044 Short Breakout
L5 11005 Trgt 1
L6 10965 Trgt 2
R3 11423
R2 11359
R1 11249
Avg 11185
S1 11075
S2 11011
S3 10901
Bank Nifty(Jul Fut)-Trading Strategy
H6 11314 Trgt 2
H5 11275 Trgt 1
H4 11235 Long breakout
H3 11187 Go Short
H2 11171
H1 11155
L1 11124
L2 11108
L3 11092 Long
L4 11044 Short Breakout
L5 11005 Trgt 1
L6 10965 Trgt 2
Pre-closing Outlook(11-07-2011)
Correction was expected and also told 2/3 times in previous outlooks. As sentiment was depressed due to global markets weakness therefore little deeper correction was seen today. Nifty traded within 5602-5652 with intraday consolidation patterns today therefore expected that finally up moves above 5652 are expected in the coming sessions.
Mid-session Outlook-2 (11-07-2011)
US Futures is trading 65 points down and all the global markets are trading or closed in Red except SSE Composite Index. Strong support between 5606-5628 and Nifty is trading between this range for the last one hour. Break out of this range will decide next Indian markets. As intraday pattterns are showing consolidations therefore finally up moves are expected.
Mid-session Outlook(11-07-2011)
All the Asian markets are in Red and Dow'futures is trading 47 points down therefore sentiment is depressed since morning today and Indian markets are down and also slipped form intraday higher levels.
Intraday patterns of are mixed and first 3 hours trading range(5622-5652) will be watched for next moves confirmations.
Intraday patterns of are mixed and first 3 hours trading range(5622-5652) will be watched for next moves confirmations.
Rally after correction & Consolidation between 5610-5700
Weekly Outlook(Jul 11 to Jul 15,2011)
Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 3 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 11-07-2011
2- Nifty-Waves Structure From Jan 2008 Crash & Strength of Indian markets
3- 2 Bullish Formations in EOD Charts
Nifty-EOD Chart(08-Jul-2011):-
Technical Patterns and Formations in EOD charts
1- Wave-4 completed correction in 'ABC' Pattern.
2- Impulsive Wave-5 is on.
3- Resistance at 200-Day SMA(5742)
4- Support above 200-Day EMA(5582)
5- Resistance at Falling Trend line last Friday.
6- 200-Day SMA is above Falling Trend line.
Conclusions
Immediate Supports and Resistances are as follows:-
1- Strong support between 5606-5628
2- Resistance between 5705-5728
Trend confirmation levels:-
1- Uptrend confirmation level is 200-Day SMA(5742) which is above Falling Trend line and sustaining above it will mean break out of that trend which stopped uptrend 3 times earlier.
2- Downtrend confirmation level is 200-Day EMA(5582) which is below strong support range of 5606-5628. Sustaining below it will mean trend reversal.
Indicators Analysis
Weekly indicators are below overbought zone,moving in upside direction and MACD intersected Average line upward therefore indicating big uptrend formation. Daily Indicators are in overbought zone and some are showing downward moves therefore showing some down moves.
Minor correction expected to cool down indicators and sentiments. As weekly indicators are telling for more upmoves possibility therefore Indicators are signalling more upmoves after some correction.
Conclusions (After putting all studies together)
Uptrend is very much intact,corrections are its parts and was seen last Friday.Now any Bearish market will not be considered until complete distribution patterns will not be seen minimum on EOD charts,
Expexted that Nifty will first trade between 5610-5700 in whatsoever bearish/bullish sentiment in the beginning of next week and also expected that Nifty will firstly consolidate between this range in the coming sessions.
Expected that Nifty will finally cross resistance range(5705-5728) of last Friday and rally above 200-Day SMA(5742) will be seen.
Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 3 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 11-07-2011
2- Nifty-Waves Structure From Jan 2008 Crash & Strength of Indian markets
3- 2 Bullish Formations in EOD Charts
Nifty-EOD Chart(08-Jul-2011):-
 |
| Just click on chart for its enlarged view |
1- Wave-4 completed correction in 'ABC' Pattern.
2- Impulsive Wave-5 is on.
3- Resistance at 200-Day SMA(5742)
4- Support above 200-Day EMA(5582)
5- Resistance at Falling Trend line last Friday.
6- 200-Day SMA is above Falling Trend line.
Conclusions
Immediate Supports and Resistances are as follows:-
1- Strong support between 5606-5628
2- Resistance between 5705-5728
Trend confirmation levels:-
1- Uptrend confirmation level is 200-Day SMA(5742) which is above Falling Trend line and sustaining above it will mean break out of that trend which stopped uptrend 3 times earlier.
2- Downtrend confirmation level is 200-Day EMA(5582) which is below strong support range of 5606-5628. Sustaining below it will mean trend reversal.
Indicators Analysis
Weekly indicators are below overbought zone,moving in upside direction and MACD intersected Average line upward therefore indicating big uptrend formation. Daily Indicators are in overbought zone and some are showing downward moves therefore showing some down moves.
Minor correction expected to cool down indicators and sentiments. As weekly indicators are telling for more upmoves possibility therefore Indicators are signalling more upmoves after some correction.
Conclusions (After putting all studies together)
Uptrend is very much intact,corrections are its parts and was seen last Friday.Now any Bearish market will not be considered until complete distribution patterns will not be seen minimum on EOD charts,
Expexted that Nifty will first trade between 5610-5700 in whatsoever bearish/bullish sentiment in the beginning of next week and also expected that Nifty will firstly consolidate between this range in the coming sessions.
Expected that Nifty will finally cross resistance range(5705-5728) of last Friday and rally above 200-Day SMA(5742) will be seen.
2 Bullish Formations in EOD Charts
20 Months Rising Trend Line & Pennant Formations
Nifty-EOD Chart(08-Jul-2011):-
Technical Positions EOD charts
1- Started on 03-11-2009 from 4538
2- Nifty got support on it 7 times in last 20 months
3- Rising Trend Line broken down but moved above it sharply
4- Continuation Pattern Pennant Formations.
5- Falling Trend line of Pennant.
Conclusions
Nifty got support 7 times in last 20 Months at rising trend line. Although Nifty slipped below it after 'DTAA renegotiation' news in June 2011 but again moved above if after 4 days consolidation below it therefore mentioned rising trend line is very much intact and indicating up trend in Indian markets.
Corrective Wave-4 begun on 05-11-2010 from 6338 and Wave 5 started on 11-02-2011 from 5178. Last 8 months pre-correction and post-correction pattern is big Pennant which is continuation pattern. As larger trend is up therefore Continuation Pennant Pattern formation is also an indication of uptrend.
Nifty tested falling trend line of Pennant in 2 previous sessions and sustaining above it will be confirmation of next Bullish phase. Expected that Nifty will finally sustain above it and fresh up trend will be seen after possible correction in the beginning next week.
Nifty-EOD Chart(08-Jul-2011):-
 |
| Just click on chart for its enlarged view |
1- Started on 03-11-2009 from 4538
2- Nifty got support on it 7 times in last 20 months
3- Rising Trend Line broken down but moved above it sharply
4- Continuation Pattern Pennant Formations.
5- Falling Trend line of Pennant.
Conclusions
Nifty got support 7 times in last 20 Months at rising trend line. Although Nifty slipped below it after 'DTAA renegotiation' news in June 2011 but again moved above if after 4 days consolidation below it therefore mentioned rising trend line is very much intact and indicating up trend in Indian markets.
Corrective Wave-4 begun on 05-11-2010 from 6338 and Wave 5 started on 11-02-2011 from 5178. Last 8 months pre-correction and post-correction pattern is big Pennant which is continuation pattern. As larger trend is up therefore Continuation Pennant Pattern formation is also an indication of uptrend.
Nifty tested falling trend line of Pennant in 2 previous sessions and sustaining above it will be confirmation of next Bullish phase. Expected that Nifty will finally sustain above it and fresh up trend will be seen after possible correction in the beginning next week.
Nifty-Waves Structure From Jan 2008 Crash & Strength of Indian markets
Technical Analysis and Research For 11-07-2011
Nifty-EOD Chart(08-Jul-2011):-
Nifty-Waves Structure From Jan 2008
Correction begun on 08-01-2008 from 6357.10 and Indian markets crashed in mid-Jan 2008. Correction completed in 5 waves on 27-10-2008 at 2252 and Bullish moves started in March 2009 after 5 months narrow range market. Waves structure of of ongoing up trend is as follows;-
1- 1st impulsive wave begun on 27-10-2008 from 2252
2- 2nd corrective wave begun on 12-06-2009 from 4693
3- 3rd impulsive wave begun on 13-07-2009 from 3919
4- 4th corrective wave begun on 05-11-2010 from 6338(2419 Points rally of Wave-3)
5- 5th impulsive wave begun on 11-02-2011 from 5178(1160 Points correction of Wave-4)
Conclusions
5th impulsive wave begun on 11-02-2011 from 5178 and Nifty is trading above rising trend line of Wave-5 and also sustained above 200-Day EMA in previous week therefore Wave-5 and up trend is intact.
Above waves structure and 5th impulsive wave formation has been posted more than 5 times in previous months and as soon as we got first indication of consolidation on 22/23-06-2011 near 5270 then we started to tell only for up moves and non stop updated only positive moves because Nifty got support above 5178 and it was strong indication 5th impulsive wave survival.
Technicallly strong positive formations,patterns and developments are as follows:-
1- Nifty crossed and sustained above 39 sessions range bound(5329-5604) moves.
2- Nifty sustained above strong resistance of 5600.
3- Nifty sustained above 200-Day EMA.
4- Forceful moves and Nifty crossed 39 seesions range in only 5 sessions.
5th Wave is continued and Nifty sustained above 200-Day EMA,until these 2 lines are intact till then view will remin bullish despite whatsoever Greece problems,European issues,RBI credit policy,inflation and FIIs positions.
Indian markets are in up trend in long charts and 5th wave is intact therefore Indian markets are having potential and strength to form new high new high above 6357.10.
Larger views and analysis have been discussed above. Intermediate/Short term and micro analysis will be will be updated before Monday market.
Nifty-EOD Chart(08-Jul-2011):-
 |
| Just click on chart for its enlarged view |
Correction begun on 08-01-2008 from 6357.10 and Indian markets crashed in mid-Jan 2008. Correction completed in 5 waves on 27-10-2008 at 2252 and Bullish moves started in March 2009 after 5 months narrow range market. Waves structure of of ongoing up trend is as follows;-
1- 1st impulsive wave begun on 27-10-2008 from 2252
2- 2nd corrective wave begun on 12-06-2009 from 4693
3- 3rd impulsive wave begun on 13-07-2009 from 3919
4- 4th corrective wave begun on 05-11-2010 from 6338(2419 Points rally of Wave-3)
5- 5th impulsive wave begun on 11-02-2011 from 5178(1160 Points correction of Wave-4)
Conclusions
5th impulsive wave begun on 11-02-2011 from 5178 and Nifty is trading above rising trend line of Wave-5 and also sustained above 200-Day EMA in previous week therefore Wave-5 and up trend is intact.
Above waves structure and 5th impulsive wave formation has been posted more than 5 times in previous months and as soon as we got first indication of consolidation on 22/23-06-2011 near 5270 then we started to tell only for up moves and non stop updated only positive moves because Nifty got support above 5178 and it was strong indication 5th impulsive wave survival.
Technicallly strong positive formations,patterns and developments are as follows:-
1- Nifty crossed and sustained above 39 sessions range bound(5329-5604) moves.
2- Nifty sustained above strong resistance of 5600.
3- Nifty sustained above 200-Day EMA.
4- Forceful moves and Nifty crossed 39 seesions range in only 5 sessions.
5th Wave is continued and Nifty sustained above 200-Day EMA,until these 2 lines are intact till then view will remin bullish despite whatsoever Greece problems,European issues,RBI credit policy,inflation and FIIs positions.
Indian markets are in up trend in long charts and 5th wave is intact therefore Indian markets are having potential and strength to form new high new high above 6357.10.
Larger views and analysis have been discussed above. Intermediate/Short term and micro analysis will be will be updated before Monday market.
Nifty-Micro Analysis of Intra Day Chart For 11-07-2011
Nifty-Intra Day Chart(08-07-2011):-
Technical Positions of today intra day charts
Selling between 5705-5728
Conclusions
Correction after selling between 5705-5728 today but good supports between 5606-5628 also, Nifty will move between 5610-5685 in whatsoever bearish/bullish sentiment in the brginning of next week and also expected that Nifty will close within this range on 11-07-2011.
 |
| Just click on chart for its enlarged view |
Selling between 5705-5728
Conclusions
Correction after selling between 5705-5728 today but good supports between 5606-5628 also, Nifty will move between 5610-5685 in whatsoever bearish/bullish sentiment in the brginning of next week and also expected that Nifty will close within this range on 11-07-2011.
Indian Stock Markets Closing Reports(08-07-2011)
Main features of today trading are as follows
1- Long Black Candle.
2- Dark Cloud Cover Bearish Pattern.
3- All the Indices closed in Red except Reality Index.
Ratios
Nifty Put Call Ratio: 0.97
Nifty P/E Ratio(08-07-2011): 20.87
Advances & Declines
BSE ADVANCES : 1091
BSE DECLINES : 1803
NSE ADVANCES : 438
NSE DECLINES : 968
Nifty Open Interest Changed Today
Nifty- 5600 CE(Jul)- +341100(+7.34%)
Nifty- 5600 PE(Jul)- +134700(+2.03%)
Nifty- 5700 CE(Jul)- +1707400(+34.12%)
Nifty- 5700 PE(Jul)- +212600(+6.01%)
Nifty- 5800 CE(Jul)- +2119150(+32.28%)
Nifty- 5800 PE(Jul)- +52100(+2.50%)
Closing
Nifty- closed at 5,660.65(-68.30 Points & -1.19%)
Sensex- closed at 18,858.04(-220.26 Points & -1.15% )
CNX MIDCAP - closed at 8,115.90(-59.85 Points & -0.73%)
BSE SMALL CAP- closed at 8,375.14(-72.85 Points & -0.86%)
1- Long Black Candle.
2- Dark Cloud Cover Bearish Pattern.
3- All the Indices closed in Red except Reality Index.
Ratios
Nifty Put Call Ratio: 0.97
Nifty P/E Ratio(08-07-2011): 20.87
Advances & Declines
BSE ADVANCES : 1091
BSE DECLINES : 1803
NSE ADVANCES : 438
NSE DECLINES : 968
Nifty Open Interest Changed Today
Nifty- 5600 CE(Jul)- +341100(+7.34%)
Nifty- 5600 PE(Jul)- +134700(+2.03%)
Nifty- 5700 CE(Jul)- +1707400(+34.12%)
Nifty- 5700 PE(Jul)- +212600(+6.01%)
Nifty- 5800 CE(Jul)- +2119150(+32.28%)
Nifty- 5800 PE(Jul)- +52100(+2.50%)
Closing
Nifty- closed at 5,660.65(-68.30 Points & -1.19%)
Sensex- closed at 18,858.04(-220.26 Points & -1.15% )
CNX MIDCAP - closed at 8,115.90(-59.85 Points & -0.73%)
BSE SMALL CAP- closed at 8,375.14(-72.85 Points & -0.86%)
Nifty Spot-Levels & Trading Strategy for 11-07-2011
Nifty Spot-Levels
R3 5805
R2 5772
R1 5716
Avg 5683
S1 5627
S2 5594
S3 5538
Nifty Spot-Trading Strategy
H6 5749 Trgt 2
H5 5729 Trgt 1
H4 5708 Long breakout
H3 5684 Go Short
H2 5676
H1 5668
L1 5651
L2 5643
L3 5635 Long
L4 5611 Short Breakout
L5 5590 Trgt 1
L6 5570 Trgt 2
R3 5805
R2 5772
R1 5716
Avg 5683
S1 5627
S2 5594
S3 5538
Nifty Spot-Trading Strategy
H6 5749 Trgt 2
H5 5729 Trgt 1
H4 5708 Long breakout
H3 5684 Go Short
H2 5676
H1 5668
L1 5651
L2 5643
L3 5635 Long
L4 5611 Short Breakout
L5 5590 Trgt 1
L6 5570 Trgt 2
Nifty(Jul Fut)-Levels & Trading Strategy for 11-07-2011
Nifty(Jul Fut)-Levels
R3 5833
R2 5796
R1 5734
Avg 5697
S1 5635
S2 5598
S3 5536
Nifty(Jul Fut)-Trading Strategy
H6 5771 Trgt 2
H5 5748 Trgt 1
H4 5726 Long breakout
H3 5699 Go Short
H2 5690
H1 5681
L1 5662
L2 5653
L3 5644 Long
L4 5617 Short Breakout
L5 5595 Trgt 1
L6 5572 Trgt 2
R3 5833
R2 5796
R1 5734
Avg 5697
S1 5635
S2 5598
S3 5536
Nifty(Jul Fut)-Trading Strategy
H6 5771 Trgt 2
H5 5748 Trgt 1
H4 5726 Long breakout
H3 5699 Go Short
H2 5690
H1 5681
L1 5662
L2 5653
L3 5644 Long
L4 5617 Short Breakout
L5 5595 Trgt 1
L6 5572 Trgt 2
Bank Nifty(Jul Fut)-Levels & Trading Strategy for 11-07-2011
Bank Nifty(Jul Fut)-Levels
R3 11631
R2 11560
R1 11441
Avg 11370
S1 11251
S2 11180
S3 11061
Bank Nifty(Jul Fut)-Trading Strategy
H6 11512 Trgt 2
H5 11469 Trgt 1
H4 11426 Long breakout
H3 11374 Go Short
H2 11356
H1 11339
L1 11304
L2 11287
L3 11269 Long
L4 11217 Short Breakout
L5 11174 Trgt 1
L6 11131 Trgt 2
R3 11631
R2 11560
R1 11441
Avg 11370
S1 11251
S2 11180
S3 11061
Bank Nifty(Jul Fut)-Trading Strategy
H6 11512 Trgt 2
H5 11469 Trgt 1
H4 11426 Long breakout
H3 11374 Go Short
H2 11356
H1 11339
L1 11304
L2 11287
L3 11269 Long
L4 11217 Short Breakout
L5 11174 Trgt 1
L6 11131 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Jul 11 to Jul 15,2011)
Nifty Spot-Weekly Levels
R3 5858
R2 5799
R1 5729
Avg 5670
S1 5600
S2 5541
S3 5471
Nifty Spot-Weekly Trading Strategy
H6 5790 Trgt 2
H5 5760 Trgt 1
H4 5730 Long breakout
H3 5695 Go Short
H2 5683
H1 5671
L1 5648
L2 5636
L3 5624 Long
L4 5589 Short Breakout
L5 5559 Trgt 1
L6 5529 Trgt 2
R3 5858
R2 5799
R1 5729
Avg 5670
S1 5600
S2 5541
S3 5471
Nifty Spot-Weekly Trading Strategy
H6 5790 Trgt 2
H5 5760 Trgt 1
H4 5730 Long breakout
H3 5695 Go Short
H2 5683
H1 5671
L1 5648
L2 5636
L3 5624 Long
L4 5589 Short Breakout
L5 5559 Trgt 1
L6 5529 Trgt 2
Pre-closing Outlook(08-07-2011)
Selling signals between 5705-5725 therefore very short term correction is being seen and next support range(5675-5695) will be watched first for next move confirmation.
Mid-session Outlook(08-07-2011)
Intrady correction is continued on expected lines. Nifty consolidated between 5675-5695 therefore expected that Nifty will not slip below 5675 today and will get intraday support above it. As good support within mentioned range yesterday therefore it will be watched for next moves confirmations.
Post-open Outlook(08-07-2011)
I always tell that no one can deceive the outlooks of this Blog and its today live proof is as follows. Floowing line was told before the opening of today market in Market Outlook(08-07-2011):-
"minor profit booking may be seen"
As was told 100% same happened and Nifty slipped from 5740 to 5707 within first 21 minutes. As sentiment was heated therefore minor intraday correction after minor profit booking is being seen and today expected first trading range is 5695-5740. Indian markets will first prepare for next moves within this range and break out of this range will give next moves first indication.
"minor profit booking may be seen"
As was told 100% same happened and Nifty slipped from 5740 to 5707 within first 21 minutes. As sentiment was heated therefore minor intraday correction after minor profit booking is being seen and today expected first trading range is 5695-5740. Indian markets will first prepare for next moves within this range and break out of this range will give next moves first indication.
Subscribe to:
Posts (Atom)