Market updates for Intraday

[Uncle-ji]

Tuesday, 21-June-2011, 10:00am

Slight Gap-up opening; Went down immediately; Going flat now;
Asian markets green; Our market on the line now;
NIFTY around 5270 now; Started above 5290 and went down immediately;
Found support in yesterday's closing; Next support is at 5220;
For upside 5320 will have to be surpassed;
Market uncertain -- no clear direction visible now.

 

[Uncle-ji]

Tuesday, 21-June-2011, 11:15am

Market positive; In the Green; But going flat now;
Bias is positive; World markets OK; Our market sentiments OK;
NIFTY above 5305 now; 5320 needs to be crossed for more upside;
Downside below 5260; But local support of 5290 holding for now;
Market sentiments up; Upward movement likely to sustain for some time.

 

[Uncle-ji]

Tuesday, 21-June-2011, 12:35pm

Market in the green; Going slow but steady; Positive bias;
NIFTY recovery continuing; Should sustain for some more time;
NIFTY around 5315 now; Support of 5290 still holding;
Resistance of 5320 is being tested now; Will have to cross this;
Downside below 5290-5260; Market may remain range-bound for some time.

 

[Uncle-ji]

Tuesday, 21-June-2011, 2:35pm

Market in the green; Uncertain bias; Going flat;
Asia closed green; Most World markets in the green;
NIFTY around 5280 now; Going uncertain;
Took a fall from 5310 in last few minutes;
Support of 5290 seems to be breached;
Next support for NIFTY is at 5260 and 5230;
5320 will have to be surpassed for upside;
Market likely to trade sidewise now in the last hour;
Do not take unnecessary risk if already in profit.

 

[Uncle-ji]

Wednesday, 22-June-2011, Pre-Market 08:45am

Gap-up opening expected for our markets today;
Whole world, except China, in the green;
Dollar down by 0.13p; BRENT Crude down to $110-levels;
NIFTY support levels today are: 5230, 5200 and 5185;
NIFTY resistance levels today are: 5320, 5350 and 5380;
Yesterday's pullback was spannered by bad news;
NIFTY expected to continue upward journey today;
No local triggers lined up, except clarification on monsoons.

 

[avad]

uncleji,first of all i would like to thank you for the valuable updates you provide. i have a question about gap opening of the market. whnever the market opens gap up does it fall a bit after wards and similarly when it opens gap down does it falls a little? Is it right?

 

[Uncle-ji]

Wednesday, 22-June-2011, 09:55am

Slight Gap-up opening; Went down immediately; Going flat now;
World markets green; Our market on the line now;
NIFTY around 5275 now; Started above 5310 and went down immediately;
Found support in yesterday's closing; Next support is at 5260;
For upside 5310-5320 will have to be surpassed;
Market has negative bias now; More downside possible.

 

[Uncle-ji]

avad> While it is a general theory that gaps are made up to restore parity, it is not necessary the market will make up the gap immediately. But, yes, the market displays a marked tendency to fill up the gap in the near-term.

 

[Uncle-ji]

Wednesday, 22-June-2011, 11:05am

Market positive; In the Green; Going OK now;
Bias is positive; World markets OK; Our market sentiments OK;
NIFTY around 5290 now; 5320 needs to be crossed for more upside;
Found local support at 5270; This and 5260 holding for now;
Downside if 5260 is breached; Market sentiments up;
Upward to sidewise movement likely for some time.

 

[Uncle-ji]

Wednesday, 22-June-2011, 12:55pm

Market in the green; Going slow; Uncertain bias;
NIFTY recovery happening very slowly; Sidewise movement now;
NIFTY around 5295 now; Support of 5270 still holding;
Resistance of 5320 will have to crossed for confirmed upturn;
Market may remain range-bound for some time with positive bias.