Technical Analysis and Research of EOD,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 2 Charts therefore not being repeated:-
1- 13 Months Nifty Trend is at Stake
2- Nifty-Micro Analysis of Intra Day Chart For 08-08-2011
All the Asian markets and US Futures are 0.50% to 3.00% down after US downgrading news. Some Asian markets are not reacting extreme but normal and also expected that Indian markets will firstly trade from 1% to 2% negative and firstly trade within last Friday range(5120-5224). Strength of last Friday range and implications of 13 months Nifty Trend survival/Failure has already been explained in above mentioned 2 topics.
440 Volts shocking news market therefore its final impact on Indian markets have to be understood and its first impact will be trading near lower levels of last Friday range but sustaining beyond this range will be next moves confirmation and will be watched first for confirmations.
As Asian markets reactions are also mixed,all are reacting in their own manner and trading 0.50% to 3.00% down therefore Indian markets final reaction will be understood after its opening and any cue can not be taken from SGX Nifty because many times it has shown completely wrong indications.
Let Indian markets show its final reaction and prepare for next moves then conclusions will be drawn from today intraday charts patterns formations and also will be updated in Mid-session Outlooks.