Trend reversal after forceful Break out today and it was expected also today therefore following lines were told in the Blog in Pre-Open Market Outlook today:-
"Nifty sustaining above 5600 will mean worst is over and then fast rally toward 5900 will be seen after completion of correction."
Intraday charts of today clearly told for rally therefore following lines were told in the Blog at 11:46AM today:-
"1st two hours Intra Day charts are suggesting consolidations and possibility of rally above 5600 turns higher."
Following bullish moves and confirmations seen today;-
1- 2 months range broken out
2- 200-Day EMA crossed forcefully
3- Long term and Intermediate term trends turned up after 2 months today.
4- The correction which started from Diwali-2010,has been completed today.
5- Today rally gave confirmation to 5th Wave which started on 11-02-2011 from 5178.
2 Months Range & Pennant Break Out Chart:-
Nifty F&O data of today as follows
Put Call Ratio- 1.05
Open Interest Changed Today
Nifty- 5500 CE(31MAR2011)- -1289100(--23.62%)
Nifty- 5500 PE(31MAR2011)- +570950(+8.08%)
Nifty- 5600 CE(31MAR2011)- -1629950(-25.85%)
Nifty- 5600 PE(31MAR2011)- +4256850(+168.59%)
Nifty- 5700 CE(31MAR2011)- -303950(-4.39%)
Nifty- 5700 PE(31MAR2011)- +2583700(549.78%)
Today Closing
Sensex- closed at 18,815.64(+464.90 Points & +2.53% )
Nifty- closed at 5654.25(+131.85 Points & +2.39%)
CNX MIDCAP - closed at 7824.15(+76.95 Points & +0.99%)
BSE SMALL CAP- closed at 8,001.63(+80.79 Points & +1.02%)
Monday(28-03-2011) Outlook
Indian markets bullish developments have been discussed above. Next immediate multiple resistances are between 5680-5900 and Indian markets have to consolidate between this range but today break out after 2 months consolidations is confirmation of correction completion. Fresh Rally begining and Wave 5 got confirmations today.
Sentiment will be heated therefore profit booking possibility can not be ruled out but rally will remain continued after fresh consolidations. 21st March 2011 started rally minimum target is 5911 and minor intraday correction is also possible in the process of consolidation and up moves may be slow but up trend will remain intact.
"Nifty sustaining above 5600 will mean worst is over and then fast rally toward 5900 will be seen after completion of correction."
Intraday charts of today clearly told for rally therefore following lines were told in the Blog at 11:46AM today:-
"1st two hours Intra Day charts are suggesting consolidations and possibility of rally above 5600 turns higher."
Following bullish moves and confirmations seen today;-
1- 2 months range broken out
2- 200-Day EMA crossed forcefully
3- Long term and Intermediate term trends turned up after 2 months today.
4- The correction which started from Diwali-2010,has been completed today.
5- Today rally gave confirmation to 5th Wave which started on 11-02-2011 from 5178.
2 Months Range & Pennant Break Out Chart:-
 |
| Just click on chart for its enlarged view |
Put Call Ratio- 1.05
Open Interest Changed Today
Nifty- 5500 CE(31MAR2011)- -1289100(--23.62%)
Nifty- 5500 PE(31MAR2011)- +570950(+8.08%)
Nifty- 5600 CE(31MAR2011)- -1629950(-25.85%)
Nifty- 5600 PE(31MAR2011)- +4256850(+168.59%)
Nifty- 5700 CE(31MAR2011)- -303950(-4.39%)
Nifty- 5700 PE(31MAR2011)- +2583700(549.78%)
Today Closing
Sensex- closed at 18,815.64(+464.90 Points & +2.53% )
Nifty- closed at 5654.25(+131.85 Points & +2.39%)
CNX MIDCAP - closed at 7824.15(+76.95 Points & +0.99%)
BSE SMALL CAP- closed at 8,001.63(+80.79 Points & +1.02%)
Monday(28-03-2011) Outlook
Indian markets bullish developments have been discussed above. Next immediate multiple resistances are between 5680-5900 and Indian markets have to consolidate between this range but today break out after 2 months consolidations is confirmation of correction completion. Fresh Rally begining and Wave 5 got confirmations today.
Sentiment will be heated therefore profit booking possibility can not be ruled out but rally will remain continued after fresh consolidations. 21st March 2011 started rally minimum target is 5911 and minor intraday correction is also possible in the process of consolidation and up moves may be slow but up trend will remain intact.