Market updates for Intraday

[Uncle-ji]

Thursday, 26-May-2011, 2:35pm

Market in the green; Holding on to gains;
Neutral bias; World markets mixed;
NIFTY now around 5380; Found support at this level;
No upside before 5420 is crossed convincingly;
More upside looks uncertain;
Do not take unnecessary risk;
Better to stay away if already in profit.

 

[Uncle-ji]

Thursday, 26-May-2011, After Market Hours

Our markets played good for almost the whole day today. And we saw a smart rally towards the end of the day. We believe that this rally was solely due to profit-booking and it came late after most players realised that the May series of future and option has closed negative and both the NIFTY and SENSEX took 6.5% cuts. The volume figures and pattern confirms this view. Hence, this upsurge might not sustain.

 

[Uncle-ji]

Friday, 27-May-2011, Pre-Market 08:45am

Gap-up or Flat opening expected for our markets today;
Asian markets OK; US markets closed in the green;
Dollar down by Rs.0.3; NYMEX Crude up by almost $1;
NIFTY support levels today are: 5350, 5295 and 5230;
NIFTY resistance levels today are: 5450, 5470 and 5490;
Q4 Results today: HAVELLS HDIL RELINFRA RPOWER and others;
Our market expected to have good trading and a relief rally.

 

[Uncle-ji]

Friday, 27-May-2011, 09:55am

Gap-Up opening; Going OK; Positive bias;
Asia in the green; World markets in the green;
NIFTY now fluctuating around the resistance of 5450;
NIFTY will have to cross 5470 for upward trend to consolidate;
Downside if NIFTY breaches 5410 and then 5350;
Market likely to be range-bound right now.

 

[Uncle-ji]

Friday, 27-May-2011, 11:05am

Market in the green; Going strong; Positive bias;
World markets in the green; Upsurge should sustain;
NIFTY still fluctuating around resistance of 5460;
NIFTY will have to cross 5470 for upward trend to continue;
Downside if NIFTY breaches 5410 and then 5370;
Market likely to trade strong and continue upwards.

 

[Uncle-ji]

Friday, 27-May-2011, 12:40pm

Market in the green; Holding on to gains;
Going OK now; Positive bias;
NIFTY just about to cross strong resistance of 5470;
NIFTY fluctuating around this mark now; Found support in 5450;
Downside if NIFTY breaches 5410 and then 5370;
Market likely to trade strong and continue upwards.

 

[anayash]

Thursday, 26-May-2011, After Market Hours

Our markets played good for almost the whole day today. And we saw a smart rally towards the end of the day. We believe that this rally was solely due to profit-booking and it came late after most players realised that the May series of future and option has closed negative and both the NIFTY and SENSEX took 6.5% cuts. The volume figures and pattern confirms this view. Hence, this upsurge might not sustain.

Friday, 27-May-2011, 11:05am

Market in the green; Going strong; Positive bias;
World markets in the green; Upsurge should sustain;
NIFTY still fluctuating around resistance of 5460;
NIFTY will have to cross 5470 for upward trend to continue;
Downside if NIFTY breaches 5410 and then 5370;
Market likely to trade strong and continue upwards.

Funny how you change your views so quickly! :rofl:

 

[Uncle-ji]

anayash> Thanks for writing. Yes, views change quickly. Such is the nature of the stock market and such is the response expected from intraday traders. We play intraday and we do not take views that span over a period of time more than a few hours. The market changes fast and we also change accordingly. And fast. Otherwise we perish.

Please look at the timing of the two updates. The first one is on Thursday night and gives the overall situation of that day. Plus we tell you in general about our feelings for the next day. But tomorrow is a new day with new challenges and new possibilities. Things can change -- this is the beauty of intraday trading.

The second one is in continuation of the previous Alerts of Friday and extends what has been said in the earlier two of the day. We are more or less correct in our analysis for the day. In fact, we are spot on -- what we said at 11:05am today was absolutely correct!

Please note that there can be departures from previous Alerts -- of course, we can be wrong in our predictions. The challenge is to be right most of the time!

 

[Uncle-ji]

Monday, 30-May-2011, Pre-Market 08:45am

Gap-up or Flat opening expected for our markets today;
Asian markets OK; US markets closed in the green;
Dollar holding flat; NYMEX Crude also holding flat;
NIFTY support levels today are: 5425, 5375 and 5350;
NIFTY resistance levels today are: 5490, 5525 and 5560;
Q4 Results today: HINDALCO PUNJLLOYD ONGC SCI and others;
Our market expected to have good and robust trading today;
Today's trading vital for overall direction for our market.

 

[Uncle-ji]

Monday, 30-May-2011, 10:10am

Gap-Up opening; Going Flat; Negative bias;
Asia, except Japan, in the green; World markets in the green;
NIFTY now fluctuating around the resistance of 5480;
NIFTY will have to cross 5510 for upward trend to start;
Downside confirmed if NIFTY breaches 5450;
Market uncertain right now, but not much downside expected.