Market updates for Intraday

[Uncle-ji]

Friday, 06-May-2011, After Market Hours

The expected short-covering rally came today and took the NIFTY past 5550. At one point the bears tried to take back control but the bulls fought back successfully. As we have said before, this is a relief rally and likely to stay only for a couple of days more. The super-strong resistance at 5600 will have to be covered first.

More on Monday's likely trade-pattern will be in Pre-Market notes of 9th at about 8:45am

 

[Uncle-ji]

Monday, 09-May-2011, Pre-Market 08:35am

Gap-up opening expected for our market today;
Asian markets OK; World markets in the green;
Dollar holding; NYMEX Crude significantly lower: less than 110 now;
Commodity prices stable now;
NIFTY support levels today are: 5500, 5475 and 5400;
NIFTY resistance levels today are: 5600, 5625 and 5635;
Q4 Results today: MUNDRAPORT PTC HINDALCO HINDUNILVR and others;
Friday's short-covering rally may continue for some time;
Profit booking will take over later in the day.

 

[Uncle-ji]

Monday, 09-May-2011, 10:00am

Flat opening as expected; In red zone now; Going flat;
Uncertain bias; Our markets just around neutral zone;
NIFTY now around 5546; Downside will be pronounced after 5525;
Similarly, upside will be tradable after NIFTY crosses 5560;
Market likely to trade within a range in the next few hours;
Short term upward profit-booking surge will happen.

 

[Uncle-ji]

Monday, 09-May-2011, 11:00am

Our market has fallen to 5500 area; Trading flat;
Negative bias now; Asian markets OK except Japan;
Our markets likely to trade within a range for some more time;
Positive breakout not likely right now;
NIFTY now around 5523; Downside arrested at 5507;
So, support of 5500 holding; More downside only after this is broken;
Similarly, upside will be tradable after NIFTY crosses 5550-5560;
Go LONG only if volume comes and market turns up;
Be careful in uncertain market ...

 

[Uncle-ji]

Monday, 09-May-2011, 12:30pm

Market still in red; Trading Flat as predicted;
Our market trading within a range; Slight Positive bias;
NIFTY now around 5534; Downside arrested at 5505-5510;
Support of 5500 holding; More downside only after this is broken;
Even now, upside will be tradable after NIFTY crosses 5550-5560;
Chances of a positive breakout looks possible from here;
Be certain before taking position; Careful in LONG in uncertain market.

 

[Uncle-ji]

Monday, 09-May-2011, 2:30pm

Market just in the green; Positive bias;
The expected upward surge happening now;
Previous NIFTY supports of 5505-5510 holding;
NIFTY now around 5560; Next step is 5600 on the upside;
No serious downside until NIFTY goes below 5520;
This rally may not last; Flat trading expected after this;
Do not take unnecessary risk; Stay away if already in profit.

 

[Uncle-ji]

Monday, 09-May-2011, After Market Hours

Today we had a flat closing — so flat that the two Indexes closed in opposite directions. Such days are very rare and happen once or twice a year! There were two other points to note today: First is the very low volumes. Frankly, we have no clue whatsoever why FIIs and DIIs today operated with one third the purse they carried on Friday. Second is the fact that our markets did a very good pullback just before 1pm to come out from the low flat of the day. And then held on. This shows inner strength that we will see more of, tomorrow.

More on Tuesday's likely trade-pattern will be in Pre-Market notes of 10th at about 8:45am

 

[Uncle-ji]

Tuesday, 10-May-2011, Pre-Market 08:45am

Flat or slight Gap-up opening expected for our market today;
Asian markets mixed; World markets in the mixed;
Dollar down; NYMEX Crude has increased;
NIFTY support levels today are: 5500 and 5470;
NIFTY resistance levels today are: 5600, 5625 and 5635;
Q4 Results today: RANBAXY RENUKA TRIVENI HDFC NTPC and others;
Monday's sidewise trend may continue for some time;
Small but sharp rally expected later in the day.

 

[Uncle-ji]

Tuesday, 10-May-2011, 9:55am

Flat opening as expected; In green zone now; Going flat;
Slight positive bias; Our markets just around neutral zone;
NIFTY now around 5560; Upside will be pronounced after 5570;
Bulls in control after 5600; Downside will be possible after 5525;
Market likely to trade within a range in the next few hours;
Short term upward profit-booking surge will happen.

 

[Uncle-ji]

Tuesday, 10-May-2011, 11:15am

Our market has given a surge to 5580 area; Trading flat now;
Positive bias; Asian markets in green;
Our markets likely to trade within a range for short time;
Positive march likely to continue shortly;
NIFTY crossed resistance area on 5550-5560 in style;
Could not go above 5592 at this time;
5600 will have to be crossed confidently for upward swing to continue;
No downside until 5525 is breached;
Be careful in choppy market ...