Update for 17th February 2011

 A Day of Sideways Trading, Now What ?

• Nifty futures opened slightly higher at 5481 on Wednesday. 
• Wednesday's trading was of the sideways nature with some moderate gains at the end.
• The trading range for the day became narrower and was confined between the close of 14the Feb. and the high of the previous day.
• The technical position of the market did not undergo any change on Wednesday.

  Nifty Futures - Intra-day Chart    

      Nifty Futures  - Daily Chart

 

Update for 16th February 2011

 Markets Still at the Cross Roads !

• Tuesday's trading action was very simple. Nifty futures opened flat at 5456. Trading remained in the narrow trading range between 5420 and 5460 of the late session of the previous day for a short time.
• Nifty futures tested the low of the trading range and reached 5397 in the morning session.
• The Nifty contracts recovered fast and recorded the then day's high at 5490. Later on, trading remained mostly above the previous day's high of 5467.
• In the last half an hour of trading saw some profit booking and Nifty futures corrected to close on 5476 with a gain some 20 points for the day.
• Trading on Tuesday was mainly centered around the reference level of  4450.

   Nifty Futures - Intra-day Chart   

     Nifty Futures  - Daily Chart