Market Outlook(10-06-2011)
EOD chart positio updated yesterday with this conclusion that either nifty will blast above 5605 or crash below 5355 because;-
1- All trends will be up above 5605 after Neckline break out of Inverse Head & Shoulders.
2- Move below 5355 will be confirmation of all trends turning down and breaking down of minimum 27 sessions range bound moves.
Million $ questions are :-
1- Will Nifty blast above 5605 or crash below 5355?
2- Who will reply first of all and tell before break out of 27 sessions range bound market?
Only intraday charts have power to tell the break out side before any other tool and first of all therefore it has to be understood from intraday trading patterns that Indian markets are consolidating or distributing.
Following messages were updated after intraday charts analysis in Mid-session Outlooks yesterday;-
1- When Indian market slipped fast and trading near days lower levels then it was told many times that weakness confirmation will be after sustaining below 5515 only
2- When Nifty was trading at lower levels and started consolidations then immediately told near lower levels for upmoves possibilities in Mid-session Outlook-3 and up moves were seen also after my this posting yesterday.
3- Following line was also told in Pre-closing Outlook(09-06-2011):-
"intraday patterns are suggesting consolidations therefore upmoves possibilities have increased today"
4- Following line was also told yesterday in Nifty-Micro Analysis of Intra Day Chart For 10-06-2011
"Intraday charts are concluding consolidation pattens today therefore expected that up moves will be seen in the coming sessions"
That Up move which was clearly declared many times yesterday from intraday charts analysis, will be seen today after positive opening. Next resistances are as follows:-
1- 5528-5538
2- 5545-5555
3- 5550-5570
4- 5580-5604
Next supports are as follows:-
1- 5502-5525
2- 5482-5492
3- 5460-5480
Positive opening expected today and Nifty will trade within next resistance ranges first therefore consolidations is must for any up moves from here. Also expected that Indian markets will consolidate at higer levels and close positive today.
EOD chart positio updated yesterday with this conclusion that either nifty will blast above 5605 or crash below 5355 because;-
1- All trends will be up above 5605 after Neckline break out of Inverse Head & Shoulders.
2- Move below 5355 will be confirmation of all trends turning down and breaking down of minimum 27 sessions range bound moves.
Million $ questions are :-
1- Will Nifty blast above 5605 or crash below 5355?
2- Who will reply first of all and tell before break out of 27 sessions range bound market?
Only intraday charts have power to tell the break out side before any other tool and first of all therefore it has to be understood from intraday trading patterns that Indian markets are consolidating or distributing.
Following messages were updated after intraday charts analysis in Mid-session Outlooks yesterday;-
1- When Indian market slipped fast and trading near days lower levels then it was told many times that weakness confirmation will be after sustaining below 5515 only
2- When Nifty was trading at lower levels and started consolidations then immediately told near lower levels for upmoves possibilities in Mid-session Outlook-3 and up moves were seen also after my this posting yesterday.
3- Following line was also told in Pre-closing Outlook(09-06-2011):-
"intraday patterns are suggesting consolidations therefore upmoves possibilities have increased today"
4- Following line was also told yesterday in Nifty-Micro Analysis of Intra Day Chart For 10-06-2011
"Intraday charts are concluding consolidation pattens today therefore expected that up moves will be seen in the coming sessions"
That Up move which was clearly declared many times yesterday from intraday charts analysis, will be seen today after positive opening. Next resistances are as follows:-
1- 5528-5538
2- 5545-5555
3- 5550-5570
4- 5580-5604
Next supports are as follows:-
1- 5502-5525
2- 5482-5492
3- 5460-5480
Positive opening expected today and Nifty will trade within next resistance ranges first therefore consolidations is must for any up moves from here. Also expected that Indian markets will consolidate at higer levels and close positive today.