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(Updated on 14-05-2012 Time : 8:50 AM)
We wrote in our last post that Market would see lower levels below 4951
are 4910-4876. Nifty Future dipped to 4900 and bounced off.
Now Today…
4920-4902 range to support.
Trading above 4946-4957 likely to drive up to 4972-4980.
4876-4845 are important intraday zone to withstand heavy selloff.
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(Updated on 11-05-2012 Time 08.50 AM)
One more session full of volatility.
Market could not clear hurdles at 5020-5035
decisively which we mentioned in our previous post.
We also told that any failure to sustain this barrier would make
sentiment even bearish. As a result of which Nifty spot
dipped even lower to 4950. We stick to our yesterday’s lower
levels 4967-4951-4927 which lent good support and likely to continue
to fuel hope for bulls. Sustained trading above 4989-5000 area may drive it to 5035.
Consecutive two closing above 5040 will ignite a relief rally up to 5106-5129
4910-4876 in a panic sell off may not be ruled out.
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(Updated on 10-05-2012 Time 08.50 AM)
Yesterday and even on 7th May we had written that
we would see 4965 that happened yesterday.
Most part of the trading session market traded above this level
after touching this level in early hours of trading.
Then it slid a little more and formed a new low about 4955.
Trading above 4994 for couples of minutes will drive it up to 5020-5035.
Sustained trading above hurdle 5020-5035 will lift it to 5067-5076.
4967-4951-4927 are intraday range to support.
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(Updated on 09-05-2012 Time 08.50 AM)
Yesterday, Nifty Future traded in line with our levels shown here prior to market opening.
It took the intraday support at 5068 and reversed, whereas we indicated a point of 5072 for intraday levels.
After sustained selloff it broke this level and lowered to below 5000 mark. We boldly wrote here
below 5045-5037 it would plunge below 5000 mark.
We also mentioned here on 07-05-12 that market might see 4965.
Now for today
4983-4965 may lend support.
5070-5112 are intraday barrier.
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Nifty Future
(Updated on 08-05-2012 Time 8.50 AM)
As expected, the market plunged in opening trade and remained for there for the half-time of the session.
We mentioned the lower levels around 5020-5005 and market dipped to about 5000 and sharp
reversal seen as a result of statement by FM in a order to control damage which gave a sigh of relief.
Now bias is still bearish as long as 5160 is not taken out for 2-3 consecutive closing.
5092-5071-5045 intraday zones to support.
Sustained Trading below 5037 may push it to 5000.
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(Updated on 07-05-2012 Time 08.50 AM)
The market seems to be under quiet selling pressure.
We told here that more deterioration if markets traded below 5129.
That became true and touched the low of 5082 which is slightly above our projected low of 5079.
Now for Today it seems to continue the same sentiment and extend the drop up to 5020-5005.
4965 may hold if it shows some strength and may raise the hope of revival for a short term move.
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