Market updates for Intraday

[Uncle-ji]

Wednesday, 27-Apr-2011, 11:00am

Our market very flat; Mostly in positive zone;
Uncertain bias; World markets in green;
NIFTY now around 5870; As before, levels to look out for are 5890 and 5855;
Our markets likely to trade within a range; Positive breakout possible;
Go LONG only if volume comes and market turns up.

 

[Uncle-ji]

Wednesday, 27-Apr-2011, 12:30pm

Market now in the red; Going down; Negative bias;
Asian markets closing mixed; China taking a beating;
NIFTY now around day's support level of 5840;
If this support is breached, market can go down to 5800;
However, support should hold and chances of a positive breakout alive from here;
Be certain before taking intraday position; Careful in LONG in falling market.

 

[venkatswamy]

I have been following your posts here and finding them very informative and useful. You are giving levels and predicting where the market will go. And you are correct most of the times. Yesterday at 11 when nifty was 5810 your prediction of positive above 5840 came true. At 1230 you said same and we got 5870. Today you are right till now. Good job, sir.

One request - you are giving levels and saying will go up or down. Tell us why.

 

[Uncle-ji]

Venkat> Thanks for your comments and good that you found my updates useful. In fact, I was wondering whether these posts are of any use to anyone. People are seeing them and thanks are being given, but no comments. More such comments will keep me going!

Your request has been noted. Will try and give reasoning.

 

[Uncle-ji]

Wednesday, 27-Apr-2011, After Market Hours

Choppy and flat trading was expected today due to expiry tomorrow, but after around 12noon the market took a fall. Good Q4 figures tried, but could not pick up the market. A new support was found at 5820. A look at yesterday's chart pattern will tell you that an upward movement was not on the cards, but we were hopeful that there will be a pullback towards the end. That did not happen as a new resistance was found at 5850.

Choppy, but positive trading expected tomorrow. Expiry or not, tomorrow will be a good day for intraday traders. Profit booking correction cannot be ruled out later in the day.

More on tomorrow's likely trade-pattern will be in Pre-Market notes of 28th at about 8:45am

 

[Uncle-ji]

Sorry folks, we had a system outage at our end and were offline on Thursday and Friday. Updates will be regular again from Monday 02-May-2011 with the Pre-Market notes before market opens at around 8:45am.

 

[Uncle-ji]

Monday, 02-May-2011, Pre-Market 8:45am

Positive gap-up opening predicted for our market today;
Most Asian markets are closed today;
World markets OK; Dollar down; Crude higher;
NIFTY support levels today are: 5700, 5685 and 5650;
NIFTY has resistance today at these levels: 5800 and 5845;
Q4 Results today: ALBK, IOB, BOI, CENTURYTEX, MARICO and others;
RBI Monetary policy will be announced tomorrow;
Good trading likely today with chances of profit booking later.

 

[Uncle-ji]

Monday, 02-May-2011, 10:00am

Gap-up opening as predicted; But went negative immediately;
World markets OK; Our markets in red zone now, negative trend;
NIFTY around 5730 now; Bulls to come in control after 5770;
Consider bears winning only after support of 5700 is breached;
Our market likely to operate within this range for some time;
Intraday traders need to careful -- take small profits and get out.

 

[Uncle-ji]

Monday, 02-May-2011, 11:00am

Our market trading flat; In negative zone now;
Slight positive bias now; World markets OK;
Our markets likely to trade within a range;
Positive breakout possible after some time;
NIFTY now around 5725; Went down to 5714;
Support of 5700 holding still now; Earlier levels still valid;
Go LONG only if volume comes and market turns up.

 

[Uncle-ji]

Monday, 02-May-2011, 12:45pm

Market now in the red; Going down; Negative bias;
World situation uncertain; Most Asian markets closed today;
Recent news will uplift US & European markets;
Next hour or so will give direction to our market;
NIFTY now around 5705; The support of 5700 holding as of now;
Previous levels still valid; Chances of a positive breakout alive from here;
Intraday traders need to be careful in LONG in uncertain market.