Market updates for Intraday

[Uncle-ji]

Thursday, 12-May-2011, After Market Hours

After today's debacle, it seems that our markets are headed southwards. The Bears are taking over. It started bad today and sidewise trade continued for some time. Then came the good figures of IIP compared to last month and with it an upward surge. Then the market realised that this was false hope as the long term year-to-year Industrial Production figures are still bad and these monthly figures are of no use. Down went the market relentlessly. NIFTY strong support of 5500 was breached. 5440 seems breakable tomorrow.

The low volumes continued for the 4th day today. This is a definite sign that a big move is coming. Big move which way? All pointers say it will be southwards as the bears seem to be taking over. But you never know with the stock market, things can change drastically within a very short time. Quite possible if a larger than expected victory for the Congress happens in the Assembly polls' results tomorrow. And short, sharp change is what we intraday traders wait for!

More on Friday's likely trade-pattern will be in Pre-Market notes of 13th at about 8:45am

 

[venkatswamy]

Then the market realised that this was false hope as the long term year-to-year Industrial Production figures are still bad and these monthly figures are of no use. Down went the market relentlessly. NIFTY strong support of 5500 was breached. 5440 seems breakable tomorrow.

Sorry, but you make it seem so simple. I am sure it does not happen like this based on one factor alone. There are a lot of things happening the net result of which is a rise or a fall. Am I correct? Does the market 'realise' something?

IAC, what you write makes a lot of sense

 

[linkon7]

Notes on IIP figures published today ...

There are some controversies. Follow these:

> India's industrial production grew a terrific 7.3% in March 2011, higher than 3.65% growth a month ago. > Very Good.
> Capital goods during March rose a robust 12.9% compared with a contraction of 18.4% last month. > Again, very good.
> Non-durable goods growth came in at 5.7% versus 1.5% (YoY). > This is a yearly figure.
> For the year (FY11) industrial output grew a meagre 7.8% as compared to 10.5% clocked in the previous fiscal.
> Manufacturing, which constitutes about 80% of the industrial production, rose an annual 7.9% versus 16.4%.
> While mining grew a minuscule 0.2% as against its growth of 12.3% during the same month last year.
> Capital goods too saw growth of only 12.9% versus 36% (YoY).

Can you still say IIP figures are good? The market first went by the 7.3% figure; then caught on and went down immediately.

Members thoughts on this ... please

IIP figure is like our pre-market open... big BS...!

If i was a long term investor, i would be looking at the books of LnT, Bhel, HUL ITC etc for my guide into the health of these leaders of the economy.

the numbers are all over the place and previous number's keep revising itself...

 

[Uncle-ji]

Friday, 13-May-2011, Pre-Market 8:45am

Flat opening and cautious trading expected today;
Asian markets mixed; US markets closed positive last night;
Dollar down; NYMEX Crude has increased slightly;
NIFTY support levels today are: 5440 and 5400;
NIFTY resistance levels today are: 5600, 5625 and 5635;
Q4 Results today: BALRAMCHIN DCHL DRREDDY and others;
Assembly elections results from 4 states and 1 UT today;
Our market likely to show movement and direction today.

 

[Uncle-ji]

Friday, 13-May-2011, 10:00am

Flat opening as expected; Went down immediately, then recovered;
Positive bias; Our markets just around the line, going flat now;
NIFTY opened today above 5490, went down immediately to 5470 levels;
NIFTY now around 5480; Downside will be fierce below 5440;
Upside will be possible after 5500; Bulls in control after 5560;
Market likely to trade within a range in the next few hours.

 

[Uncle-ji]

Friday, 13-May-2011, 11:00am

Our market has given a surge to 5560 area; Trading strong now;
Positive bias; World markets are mixed;
Election results provided the trigger for surge;
NIFTY now around 5560; Localised resistance of 5500 broken;
Taking time to cross 5560; After this next target is 5600;
New support level is now 5470; Strong support is at 5440;
Be careful in choppy market.

 

[Uncle-ji]

Friday, 13-May-2011, 12:35pm

Market deep in the green; Trading flat again;
Our market trading within a range; Slight Positive bias;
NIFTY around 5560 now; Resistance of 5560 still holds;
Likely to be broken soon; After this next target is 5600;
New support level still 5470; Strong support is at 5440;
Be certain before taking position in flat market.

 

[Uncle-ji]

Friday, 13-May-2011, 2:30pm

Market has gone deeper in the green; Positive bias;
Almost whole world is in the green now;
NIFTY now around 5600; Markets going flat in this area;
This strong resistance may not be broken by end-day;
Resistance of 5560 has been broken convincingly;
New support level still 5470; Strong support is still at 5440;
Downside not possible under the circumstances; Not beyond 5540 in any case;
Do not take unnecessary risk; Stay away if already in profit.

 

[Uncle-ji]

Friday, 13-May-2011, After Market Hours

The surge that we saw today, very correctly predicted by us yesterday, should not be taken as a trend changer. It is just a one-off result due to some feel-good factors. Our market remains where it was and the sidewise movement continues. This is why the NIFTY could not cross the resistance of 5600, although it did touch that level once. Good thing is, volumes have come back mostly from the retail investors. Meaning, all is not lost and we might see some more upside on Monday.

More on Monday's likely trade-pattern will be in Pre-Market notes of 16th at about 8:45am

 

[Uncle-ji]

Monday, 16-May-2011, 10:10am

Gap-down opening as expected; Going flat now;
Slight positive bias; Market very quiet and cautious;
NIFTY opened today around 5530, went down immediately to 5510 levels;
NIFTY now around 5520; Downside will be sharp below 5500;
Upside will be possible after 5570; Bulls in control after 5600;
Market likely to trade within a range in the next few hours.