Market updates for Intraday

[Uncle-ji]

Wednesday, 06-July-2011, 10:00am

Flat opening; Went up immediately; Steady now; Going flat;
World markets mixed; Our market in the green;
NIFTY around 5635 now; Went up from support level of 5625;
5655 acted as resistance a little while ago; More support is at 5600;
For confirmed upside 5660 will have to be crossed;
Market showing side-wise movement now with slight positive bias.

 

[Uncle-ji]

Wednesday, 06-July-2011, 11:00am

Market fluctuating around the line; Going flat;
Slight negative bias; This is a "Wait & Watch" market;
NIFTY around 5635 now; Support of 5620-5630 is holding good;
Next support is at 5600; Resistance is at 5650-5660;
Market expected to have some more sidewise movement;
Lack of interest continues. We need a shake-up news to go forward.

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Daily updates just after: 8:45am, 10am, 11am, 12:30pm and 2:30pm

 

[Uncle-ji]

Wednesday, 06-July-2011, 12:40pm

Market still very flat; Just below the line; In red;
World markets mixed; Europe opening important;
NIFTY around 5625 now; Fluctuating between 5615-5630;
Local support of 5630 breached; 5600 support now working;
5630 now acting as local resistance; Next resistance 5650-5670;
Sustained up side only after these levels;
More downside below 5600 level;
Positive breakout still possible if volume comes in;
However, lack of interest predicts horizontal movement.

 

[Uncle-ji]

Wednesday, 06-July-2011, 3:00pm

Market on the line; Showed some recovery; But did not hold;
World markets mixed; Our market has slight positive bias;
NIFTY around 5632 now; Came up from about 5610 to 5645;
Resistance of 5650 acting strong; Next resistance is at 5670;
Support of 5600 holding; 5630 also coming into play;
Difficult for upward journey to go beyond 5650 in last hour.

 

[Uncle-ji]

Thursday, 07-July-2011, Pre-Market 08:55am

Gap-up opening expected for our markets today;
Asian markets are OK, except China which had a 25bpp rate hike;
US/World markets were good with positive bias last night;
Dollar is down up 44.3600; BRENT Crude is holding at $113.62;
NIFTY support levels today are: 5600, 5575 and 5550;
NIFTY resistance levels today are: 5665, 5690 and 5725;
Weekly food inflation numbers expected around noon today;
NIFTY expected to trade cautiously till then;
Food inflation last week was 7.78% down from 9.13% previous week;
Lack of buying interest resulting in insipid market;
Breakout possible in either direction if volume comes.

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Daily updates just after: 8:45am, 10am, 11am, 12:30pm and 2:30pm

 

[Uncle-ji]

Thursday, 07-July-2011, 10:00am

Gap-up opening; Going up from there; Steady rise till now;
World markets OK; Our market should sustain growth;
NIFTY around 5652 now; Opened at around 5640, went up to 5662;
Support is at 5620; Stronger support is at 5600;
For upside 5660 will have to be crossed convincingly;
Market showing side-wise movement now with slight positive bias.

 

[Uncle-ji]

Thursday, 07-July-2011, 11:15am

Market good; Going up smartly; Positive bias;
NIFTY around 5680 now; Resistance of 5660 has been passed;
Resistance of 5690 is active now; Target is 5725 if 5690 is crossed;
Support is at 5620-5630; Stronger support is at 5600;
Market expected to continue upward journey;
Wait for the inflation figures around noon.

 

[Uncle-ji]

Thursday, 07-July-2011, 12:40pm

Market still very good; Going flat now; In green;
World markets mixed; Europe opening in green;
NIFTY around 5690 now; Cannot cross 5700 since 11:20am;
Resistance at 5660-5665 has been broken a long time ago;
Resistance of 5690 is active now; Target is 5725 if 5690 is crossed;
Support is now at 5650; More support is at 5620-5630;
Market expected to continue upward journey after pause;
Time to be careful of not losing profits already made.

 

[Uncle-ji]

Friday, 08-July-2011, Pre-Market 08:50am

Gap-up opening expected for our markets today also;
Asian markets, except China, have opened gap-up and are trading good;
US/World markets were good with positive bias last night;
Dollar is down at 44.1900; BRENT Crude is up at $118.59;
NIFTY support levels today are: 5690, 5660 and 5635;
NIFTY resistance levels today are: 5750, 5770 and 5790;
Technically, the road is smooth for the NIFTY till 5850-5900;
Q1 Results today: HDFC, INDUSINDBK;
NIFTY expected to trade strong and robust today;
Although range may not be so high;
Possibility of profit-booking break at higher levels.

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Daily updates just after: 8:45am, 10am, 11am, 12:30pm and 2:30pm

 

[Uncle-ji]

Friday, 08-July-2011, 10:00am

Flat opening; Went down immediately; Steady now;
World markets good; Our market in the red;
NIFTY around 5715 now; Opened at around 5735, went down to 5705;
5710 acted as a local support; Holding now;
More support is at 5680-5690 and then at 5650-5660;
Confirmed upside after 5750; Market showing side-wise movement now.