Market updates for Intraday

[Uncle-ji]

Wednesday, 04-May-2011, Pre-Market 8:45am

Gap-down to Flat opening expected for our market today;
Asian markets in red; World markets mixed;
Dollar & NYMEX Crude both slightly down;
NIFTY support levels today are: 5540, 5500 and 5470;
NIFTY has resistance today at these levels: 5600 and 5625;
Q4 Results today: HEROHONDA, PNB, TORRENTPOWER and others;
No domestic cues expected today; Market sentiments low;
Cautious trading likely in first-half today with medium volumes;
Later, the RBI Rate Hike will be discounted and market should rise.

 

[Uncle-ji]

Wednesday, 04-May-2011, 10:00am

Gap-down opening as predicted; But recovering now;
World markets mixed; Our markets in red zone now;
NIFTY now around 5535; Support of 5500 holding;
Market very uncertain; More downside possible;
Intraday Traders ... Careful ...

 

[msa5678]

Wednesday, 04-May-2011, 10:00am

Gap-down opening as predicted; But recovering now;
World markets mixed; Our markets in red zone now;
NIFTY now around 5335; Support of 5300 holding;
Market very uncertain; More downside possible;
Intraday Traders ... Careful ...

Wanted to put a THANKS for the
post....But THANKS button not
appearing. Don't know why !

 

[shubhamchugh]

Wanted to put a THANKS for the
post....But THANKS button not
appearing. Don't know why !

I thanked him in name of you.So don't worry

 

[Uncle-ji]

Wednesday, 04-May-2011, 10:10am

Our market trading flat in negative zone;
Negative bias now; World markets mixed;
Our markets likely to trade within a range;
NIFTY now around 5515; Support of 5500 still holding;
Very uncertain markets; Positive breakout not likely right now;
Go LONG only if volume comes and market turns up;
Careful ...

 

[Khushijain]

Can you please help i'm short on jp associate @83.20 expecting it to go to 79?

 

[Uncle-ji]

Wednesday, 04-May-2011, 12:40pm

Market still in red; Flat bias; World markets bad;
Our market trading within a range;
NIFTY now around 5536; Support of 5500 proving to be very strong;
Earlier support of 5540 acting as resistance level now;
Chances of a positive breakout looks possible from here;
Be certain before taking position; Careful in LONG in uncertain market.

 

[Uncle-ji]

Khushijain> JPASSOCIAT right now is around 83.50 with a very slight positive bias -- 79 looks quite far in intraday. It can go on a downward journey only if the market falls rapidly and JPASSOCIAT crosses the resistance of 82.50 with conviction. Limit your losses.

 

[msa5678]

I am short in "Gujarat Fluorochemicals Ltd" Cash
from 352, Low today was 345.3. Do you suggst
holding the short.

 

[Uncle-ji]

Wednesday, 04-May-2011, 2:40pm

Market recovered as expected; Could not hold on;
NIFTY around 5534 now; Found resistance at 5580;
Down-side will be severe if 5520-5500 is breached; Upside after 5580;
Do not take unnecessary risk; Stay away if already in profit.