Technically: Why did the market closed UP today?

Yesterday I stuck my neck out to pen that the markets were going to close in the green. I also said, any weakness in the first have should be seen as an opportunity to buy for intraday.

As you can see todays intraday nifty charts, it has happend the way it was said.

The question is what view was taken to state this.

Technically:
1. The advance/decline of the Nifty was extremely poor.
2. The Market wide delivery position was 70%

From my previous experience, this specific pattern, has always made the Nifty close in the green on the next day.

See this page for the Advance/Decline and Marketwide delivery position:
http://www.twonahalf.com/MarketActivity.asp

If anyone is aware of any more such patterns, please discuss it here so that all can benefit...

Regards

MANOJ T

what do u think abt market tommorow... or down the week???

hello to all !!! I am a newbie in this site and to this greatest subject too..craving my seniors help. Thank You.

Well, cannot say very specifically about tomorrow, or every day for that matter, but overall the markets will remain side to DOWN.

Market will be up tomorrow Sensex 12760-12800

Dear Manoj,

Technically market has tested DMA200 (SMA200) Support and rebound. That is what apeares on Nifty Chart Technically.

Fact is : Shanghai Composite and Nikkei 225 turn green and it is followed by other asia markets and further Europe followed Asia..and now it is US turn..US OPEN in green and currently holding.
Here important thing is Unwinding of Carrytrade Currency (Yen) and Stock markets was pulling leag's of each other till yesterday...
Now both are showing Recovery...and investors are feeling little relif.
There is another Risky event on Friday..US Non Farm Payroll data release.
If that data turn Negative for USD ,then US Stock market will pull down asia and Europe, else..No reason for further fall....and current correction will be name as Healthy correction and market will resume It's UP trend.

Here is link for checking World indices. http://finance.yahoo.com/intlindices?e=asia

My few words..correct me if anything wrong.

Happy Trading
Ramdas

George Douglas Taylor

Hi CreditViolet, Can you elaborate on this one pls?
I mean, are you suggesting "George Douglas Taylor" has some readings like what I have done and I should google for him?
Can you explain pls?

Thanks

MANOJ T

hi to all ....i am new to share market....This is intresting site with lot of technical analysis. Thanks alot seniors.