Market updates for Intraday

[Uncle-ji]

Wednesday, 08-June-2011, Pre-Market 08:50am

Gap-down or Flat opening expected for our markets today;
Asian markets red; US markets closed bad for the 5th day running;
Dollar slightly down; BRENT Crude up by $1.3+;
NIFTY support levels today are: 5520, 5500 and 5480;
NIFTY resistance levels today are: 5580, 5600 and 5640;
World markets likely to weigh heavy on our markets today;
Market likely to start weak. A breakout is very much possible.

 

[Uncle-ji]

Wednesday, 08-June-2011, 10:00am

Gap-down opening; Recovered a little; Going flat;
World markets bad; Our markets in the red now;
NIFTY started the day low, at about 5530;
Fluctuating around the local resistance of 5545 now;
Resistance at 5570-5580 will have to be crossed for upsurge;
Downside will commence if NIFTY goes below support of 5520;
Upward movement likely till resistance of 5580.

 

[Uncle-ji]

Wednesday, 08-June-2011, 11:30am

Market fluctuating just below the line; Going flat now;
Slight positive bias; World markets bad;
NIFTY around 5550 now; Yesterday's closing acted as resistance;
Resistance at 5570-5580 will have to be crossed for upside;
Downside only if NIFTY breaches 5520;
Market likely to trade sidewise for some time.

 

[Uncle-ji]

Wednesday, 08-June-2011, 12:35pm

Market still on the line; Going Flat; Uncertain bias;
NIFTY still around 5550; Fluctuating around this mark;
Yesterday's closing still acting as good resistance;
Resistance at 5570-5580 will have to be crossed for upside;
Downside only if NIFTY now breaches 5535;
Market likely to trade sideways and then move up to 5580.

 

[Uncle-ji]

Wednesday, 08-June-2011, 2:35pm

Market deep in the red; Going flat; Negative bias;
NIFTY around 5520; Fluctuating between 5515 and 5530;
Found resistance at 5530 and support at 5515;
NIFTY needs to go back above 5560 for upside now;
More downside if NIFTY now breaches 5515-5500;
Do not take unnecessary risk if already in profit.

 

[Uncle-ji]

Thursday, 09-June-2011, Pre-Market 8:50am

Flat or Gap-down opening expected for our markets today;
Asian markets mostly in the red; US closed red for 6th day running;
Dollar slightly down; BRENT Crude down by $0.5+;
NIFTY support levels today are: 5500, 5490 and 5470;
NIFTY resistance levels today are: 5555, 5585 and 5600;
Food inflation figures expected around noon today;
Workers' strike at Maruti plant becoming a source of worry;
No EGoM meet on fuel price hike scheduled today;
Market likely to start weak then go up and trade strong.

(Daily updates are planned just after these times: 8:45am, 10am, 11am, 12:30pm and 2:30pm)

 

[Uncle-ji]

Thursday, 09-June-2011, 10:00am

Flat opening; Going flat now; Around the line;
World markets bad; Our markets in the green now;
NIFTY fluctuating around the 5535-level now;
Resistance at 5555 will have to be crossed for good upsurge;
Downside will commence if NIFTY goes below support of 5515;
Market likely to move horizontally for some time;
Upward movement later till resistance of 5555.

 

[Uncle-ji]

Thursday, 09-June-2011, 11:05am

Market has taken a fall; Going down further now;
Negative bias; All major world markets in the red;
NIFTY around 5510 now; Found support at 5505;
Earlier support of 5515 breached; Next support is at 5500;
Now, resistance at 5535 will have to be crossed for upside;
Market to trade sidewise for some time with slight negative bias;
Upward surge expected later in the day till 5555.

 

[Uncle-ji]

Thursday, 09-June-2011, 12:35pm

Market still in the red; Going Flat; Negative bias;
Fluctuating but going down slowly; Most world markets in red;
NIFTY still around 5510; Fluctuating between 5500-5520;
Strong support of 5500 holding for now;
Resistance at 5520-5535 will have to be crossed for upside;
More downside if NIFTY now breaches 5500;
Market likely to trade sideways and then move up to 5530-5550.

 

[Uncle-ji]

Thursday, 09-June-2011, 2:45pm

Market back in the red; Going flat; Uncertain bias;
NIFTY went positive as predicted; But recovery did not hold;
NIFTY around 5520; Fluctuating between 5510 and 5525;
Resistance around 5535 could not be crossed;
NIFTY needs to go back above 5540 for upside now;
Downside if NIFTY now breaches 5500;
Do not take unnecessary risk if already in profit.