Morning Update at 0800hrs for Intraday Market Level
- Thread starter pranayk
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This is what I use...
http://www.google.com/finance
US market open green but are having tough time in holding the gains, the markets are overbought in US and need some pause to take some breath. If they close red, as I am expecting.. then you go online again in morning around 8am and check that link again for how Asian markets performing.. if they too open red as I want
then you will see a red opening in India assuming there is no local news to ignore global queues
http://www.google.com/finance
US market open green but are having tough time in holding the gains, the markets are overbought in US and need some pause to take some breath. If they close red, as I am expecting.. then you go online again in morning around 8am and check that link again for how Asian markets performing.. if they too open red as I want
then you will see a red opening in India assuming there is no local news to ignore global queuesThere are many sites e.g. http://www.allstocks.com/markets/US_Markets/us_markets.html
markets for 26 aug 09
on tuesday the markets behaved as if it was the expiry day. Nifty after a bout of volatility with expiry type volume within the expected band of 4582 on the lower side and 4673 on the higher side closed nearly flat at 4659 compared to mondays close of 4643.what was interesting to note was, every fall invited heavy buying interest & shorts were covered. The pin bar formed in the last hourly candle of monday played its role of bringing down nifty with a gap down open followed by the slide towards 200 hourly ema where it found solid buying support & continuously move up to breach mondays high of 4656 to reach up to 5673.
Tuesdays low around 4582 is likely to be a strong support this week. Although us markets had a pause by closing flat on monday, the china factor continued to threaten asian markets which closed in the red. With us markets having had their quota of pause on tuesday night & all set to bounce with vigor on wednesday night, one has to wait & see how asian markets behave on wednesday morning.
If one has a closer look at the hourly chart above, one will notice that nifty is confined within a upward moving channel a breach of lower band of the channel can bring it down to find support around 4600 or till tuesdays lows of 4582 levels. On the upper side it faces resistance around 4688 levels a breach of which can easily take it past 4700 levels. With the important indicator slow stochastic showing signs of weakness, unless there are solid rear guard action by the bulls early on wednesday, there is every possibility of nifty first falling towards 4600 levels to be followed up by up move as was seen on tuesday. However strong asian markets if freed from the chinese effect, can easily boost nifty to initially move up to nullify this negative indications by taking stochastic into the upper zone again.
WITH BOTH AN INSIDE & OUT SIDE RED NRB FORMED ON EITHER SIDE OF THE GREEN WRB IN THE LAST 3 HOURLY CANDLES IN THE CHART ABOVE, A BREACH OF 4673 THE HIGH OF THE WRB CAN SEE A SHARP UP MOVE & SIMILARLY A DOWN SIDE BREACH OF THE WRB AT 4633 CAN SURELY BRING NIFTY DOWN TOWARDS 4600 OR LOWER LEVELS. SINCE, ASIAN MARKETS HAD CORRECTED ON TUESDAY & INDIAN MARKETS HAD CLOSED IN THE +VE, WEDNESDAY MAY SEE A REVERSE ACTION WHEN ASIAN MARKETS MAY RISE & INDIAN MARKETS MAY REMAIN FLAT OR CLOSE WEAKER BY END OF THE DAY. IF THAT HAPPENS, THEN EXPECT NIFTY TO RETEST 4600 OR EVEN 4580 LEVELS. HOWEVER, IF ONE GOES AS PER PURE TECHNICALS, THEN THERE IS EVERY POSSIBILITY OF NIFTY TESTING 4700 OR EVEN HIGHER LEVELS ON WEDNESDAY.
DOW WHICH WAS MORE THAN 100 POINTS UP WHEN EUROPEAN MARKETS WERE TRADING, WILL FALL TO CLOSE MILDLY +VE BY END OF THE DAY AS THIS WOULD BE THE 5TH CONSECUTIVE DAY OF RISE IN DOW IF YOU COUNT WEDNESDAYS 3 POINT +VE CLOSE AS A RISE.
on tuesday the markets behaved as if it was the expiry day. Nifty after a bout of volatility with expiry type volume within the expected band of 4582 on the lower side and 4673 on the higher side closed nearly flat at 4659 compared to mondays close of 4643.what was interesting to note was, every fall invited heavy buying interest & shorts were covered. The pin bar formed in the last hourly candle of monday played its role of bringing down nifty with a gap down open followed by the slide towards 200 hourly ema where it found solid buying support & continuously move up to breach mondays high of 4656 to reach up to 5673.
Tuesdays low around 4582 is likely to be a strong support this week. Although us markets had a pause by closing flat on monday, the china factor continued to threaten asian markets which closed in the red. With us markets having had their quota of pause on tuesday night & all set to bounce with vigor on wednesday night, one has to wait & see how asian markets behave on wednesday morning.
If one has a closer look at the hourly chart above, one will notice that nifty is confined within a upward moving channel a breach of lower band of the channel can bring it down to find support around 4600 or till tuesdays lows of 4582 levels. On the upper side it faces resistance around 4688 levels a breach of which can easily take it past 4700 levels. With the important indicator slow stochastic showing signs of weakness, unless there are solid rear guard action by the bulls early on wednesday, there is every possibility of nifty first falling towards 4600 levels to be followed up by up move as was seen on tuesday. However strong asian markets if freed from the chinese effect, can easily boost nifty to initially move up to nullify this negative indications by taking stochastic into the upper zone again.
WITH BOTH AN INSIDE & OUT SIDE RED NRB FORMED ON EITHER SIDE OF THE GREEN WRB IN THE LAST 3 HOURLY CANDLES IN THE CHART ABOVE, A BREACH OF 4673 THE HIGH OF THE WRB CAN SEE A SHARP UP MOVE & SIMILARLY A DOWN SIDE BREACH OF THE WRB AT 4633 CAN SURELY BRING NIFTY DOWN TOWARDS 4600 OR LOWER LEVELS. SINCE, ASIAN MARKETS HAD CORRECTED ON TUESDAY & INDIAN MARKETS HAD CLOSED IN THE +VE, WEDNESDAY MAY SEE A REVERSE ACTION WHEN ASIAN MARKETS MAY RISE & INDIAN MARKETS MAY REMAIN FLAT OR CLOSE WEAKER BY END OF THE DAY. IF THAT HAPPENS, THEN EXPECT NIFTY TO RETEST 4600 OR EVEN 4580 LEVELS. HOWEVER, IF ONE GOES AS PER PURE TECHNICALS, THEN THERE IS EVERY POSSIBILITY OF NIFTY TESTING 4700 OR EVEN HIGHER LEVELS ON WEDNESDAY.
DOW WHICH WAS MORE THAN 100 POINTS UP WHEN EUROPEAN MARKETS WERE TRADING, WILL FALL TO CLOSE MILDLY +VE BY END OF THE DAY AS THIS WOULD BE THE 5TH CONSECUTIVE DAY OF RISE IN DOW IF YOU COUNT WEDNESDAYS 3 POINT +VE CLOSE AS A RISE.
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morning update at 8 am 26 aug 09
as expected, dow from a 110 point + at one time, corrected gradually after the closure of +ve european markets to finally close 30 point up with more important s&p500 gradually inching up to 1028. European markets were up from 1% to .4% with uk ftse closing at.4%. Brazil closed in the red with .6%-ve. Asian markets having fallen on tuesday due to china effect, have opened mixed to mildly weaker & may close flat to mixed for the day again with a -ve bias.
For indian markets, expect a flat to milder opening in line with asian markets. With thursdays expiry considerations coming into play today, it may again be a volatile day. Although technically the markets look extremely strong to go further up from here, expiry considerations and influence of asian markets may delay the up move to either post expiry or may be towards early september. So one can expect a volatile but range bound market within the range of 4600 to 4700 till expiry.
Traders are advised to accumulate long positions in september series on every decline of nifty towards 4600 or lower levels as there are every indication of nifty moving up towards 5000 levels in september.
as expected, dow from a 110 point + at one time, corrected gradually after the closure of +ve european markets to finally close 30 point up with more important s&p500 gradually inching up to 1028. European markets were up from 1% to .4% with uk ftse closing at.4%. Brazil closed in the red with .6%-ve. Asian markets having fallen on tuesday due to china effect, have opened mixed to mildly weaker & may close flat to mixed for the day again with a -ve bias.
For indian markets, expect a flat to milder opening in line with asian markets. With thursdays expiry considerations coming into play today, it may again be a volatile day. Although technically the markets look extremely strong to go further up from here, expiry considerations and influence of asian markets may delay the up move to either post expiry or may be towards early september. So one can expect a volatile but range bound market within the range of 4600 to 4700 till expiry.
Traders are advised to accumulate long positions in september series on every decline of nifty towards 4600 or lower levels as there are every indication of nifty moving up towards 5000 levels in september.
markets for 27 aug 09
on wednesday, nse index in spite of all the push to reach 4700 levels, failed to touch it on 3 attempts and could just manage to reach till 4698. However both the august and the sept futures could manage to cross 4700 levels but closed below it. Now everyone is waiting for the expiry day to see whether nifty closes above the 4700 mark or surprises every one by operators action to pull down nifty out of the blue towards 4600 levels. Based on pure technicals, nifty is all set for a mega rise in coming days. Whether the sharp up move comes on expiry day which comes after 5 consecutive days of up days or may come after a pause or mild correction has to be seen. A cross over and sustaining above 4th aug highs of 16002 & 4731 can see a very sharp up move in indices which most likely may come around early september.
If one has a closer look at the hourly chart above , important indicator slow stochastic is giving negative divergence . Interestingly the same negative divergence by the same indicator was observed yesterday also where indices are moving higher but the indicator is failing to make new highs. But the days around expiry being fully under the control of operators, such deceptive indications are part & parcel of the operators game plan. As long as nifty does not fall to breach 4656 to 4636 zone, it will move up & up only. A decisive breach of 4636 with volume can only spell danger for bigger falls towards sub 4600 levels.
Andrews pitchforks median line in blue in the chart above now has gone above 4700 levels and will slowly & gradually pull nifty towards it. The lower fork now around 4600 levels will provide the required support for nifty in coming days. In the daily eod charts daily macd & cci are indicating sharp up moves that may perhaps come after the expiry
on wednesday, nse index in spite of all the push to reach 4700 levels, failed to touch it on 3 attempts and could just manage to reach till 4698. However both the august and the sept futures could manage to cross 4700 levels but closed below it. Now everyone is waiting for the expiry day to see whether nifty closes above the 4700 mark or surprises every one by operators action to pull down nifty out of the blue towards 4600 levels. Based on pure technicals, nifty is all set for a mega rise in coming days. Whether the sharp up move comes on expiry day which comes after 5 consecutive days of up days or may come after a pause or mild correction has to be seen. A cross over and sustaining above 4th aug highs of 16002 & 4731 can see a very sharp up move in indices which most likely may come around early september.
If one has a closer look at the hourly chart above , important indicator slow stochastic is giving negative divergence . Interestingly the same negative divergence by the same indicator was observed yesterday also where indices are moving higher but the indicator is failing to make new highs. But the days around expiry being fully under the control of operators, such deceptive indications are part & parcel of the operators game plan. As long as nifty does not fall to breach 4656 to 4636 zone, it will move up & up only. A decisive breach of 4636 with volume can only spell danger for bigger falls towards sub 4600 levels.
Andrews pitchforks median line in blue in the chart above now has gone above 4700 levels and will slowly & gradually pull nifty towards it. The lower fork now around 4600 levels will provide the required support for nifty in coming days. In the daily eod charts daily macd & cci are indicating sharp up moves that may perhaps come after the expiry
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