Market updates for Intraday

[Uncle-ji]

Monday, 18-Apr-2011, After Market Hours

After a buoyant start, our markets closed deep in the red today;
Selling pressure was so intense that nothing could stop its downward journey;
Nifty closed at 5729.10 today, down 95.45 points.;
It is not exactly clear why the selloff came;
Although it is surmised that it was started by heavy institutional and FII selling;
This is not a good sign; Good thing is - volumes were not very high;
Some carry over of this trading pattern is bound to happen tomorrow;
So, tomorrow a day trader will have to be cautious and careful.

More on tomorrow's likely pattern will be in pre-market update of 19th.

 

[Uncle-ji]

Tuesday, 19-Apr-2011, Pre-Market 8:45am

Gap-down opening predicted for our market today;
World markets all in red; Dollar prices up; Crude going up;
NIFTY support levels today are: 5680 and 5625;
NIFTY has resistance today at these levels: 5800 and 5880;
Q4 Results today: HCL Tech, IDBI Bank, ZEEL and others;
Cautious and subdued trading expected largely;
Chances of recovery sometime during the day.

 

[Uncle-ji]

Tuesday, 19-Apr-2011, 10am

Slight gap-down or Flat opening; All major world markets in red;
Going flat now; But in negative zone;
Negative bias in our markets; Choppy trading expected;
Recovery nowhere in sight; Be prepared for more downside.

 

[Uncle-ji]

Tuesday, 19-Apr-2011, 11am

Our market has recovered as predicted but did not hold;
Market went to Green; Trading Flat now; Positive bias;
Asia markets still in red unlikely to recover;
NIFTY support of 5680 holding; Resistance found at 5760;
Now around 5725; More downside only if 5680 is breached.

 

[Uncle-ji]

Tuesday, 19-Apr-2011, 12:30pm

Market still in green; Consolidating; Slight positive bias;
Asian markets closing red; Await Europe opening;
As before, NIFTY support of 5680 holding; Now around 5740;
Operating in a tight range now; Good chances of a breakout;
Careful -- breakout can be in any direction;
Upward move confirmed after 5760; More downside only if 5680 is breached;
Better to stay away till market turns up if you want to go LONG.

 

[Uncle-ji]

Tuesday, 19-Apr-2011, 2:30pm

Market fluctuating between red and green; Trading Choppy;
Asia closed mostly in the red; Europe opened strongly positive;
Expected break-out came in negative direction, but did not hold;
As before, NIFTY support of 5680 holding; Now around 5735;
Upward move confirmed only after 5760; Sidewise movement till then;
Do not take unnecessary risk; Stay Away in intraday if already in profit.

 

[Uncle-ji]

Tuesday, 19-Apr-2011, After Market Hours

Today's market was more or less according to our pre-market predictions;
Bad start, recovery after some time, which did not hold;
Then trading within a range; a surge towards the end of the day;
NIFTY support of 5680 and resistance of 5800 were held;
Low total volumes is a worry but 1700Cr of FII buying is a plus today;
So, there is no reason that the market will fall flat from these levels just now.

Although the NIFTY ended flat today, there were lots of opportunities for the Intraday Trader because of the choppiness; In fact, this is the beauty of day trading: we are not bothered whether the broader market is going up or down, whether the 'normal' trader has made a gain or a loss, we want the latitude where prices fall or rise substantially within a day. These give us the opportunities to make money.

Tomorrow also, there will be lots of opportunities for the Intraday Trader.

More on tomorrow's likely trade-pattern will be in Pre-Market notes of 20th at about 8:45am

 

[Uncle-ji]

Wednesday, 20-Apr-2011, Pre-Market 8:45am

Gap-up opening predicted for our market today;
World markets all in green; Dollar prices down; Crude slightly up;
NIFTY support levels today are: 5700 and 5650;
NIFTY has resistance today at these levels: 5800 and 5830;
Q4 Results today: ING Vysya Bank, Yes Bank and others;
Robust and positive trading expected today;
Profit booking correction cannot be ruled out at higher levels.

 

[Uncle-ji]

Wednesday, 20-Apr-2011, 10am

Huge gap-up opening as predicted; Trading in positive zone;
But going flat now with slight negative bias;
All major world markets in green; Asian markets doing well;
NIFTY crossed 5800 initially; Now around 5790;
Our markets should rally.

 

[Uncle-ji]

Wednesday, 20-Apr-2011, 11am

Our market in positive zone; Trading Flat now;
Positive bias; World markets in green;
But our markets likely to trade within a range;
NIFTY currently at around 5800; More upside after 5820;
BHARTIARTL UNIPHOS given good profits in Intraday;
If you are in profit already, take rest of the day off !!!