Update for 14th March 2011

   Nifty Futures Still in Neutral Territory !

• Although Nifty futures have made losses in the last two days of the week, the contract never breached the 5400 support area. 
• Friday's trading has again lead to the formation of another doji candle indicating indecision by the market participants.

• The contract is still trading in a technically neutral area from where it can move either way.
• The market may even keep on trading in a trading range for some more time as envisaged in many previous posts, before trying to breakout either way. ( Please see the shaded area as being the previously indicated preferred trading area and pointed out in many previous posts.)
• As far as the market and Nifty futures are trading in a trading range,  most analysis would go awry and would be of no use.
• As such, this author is forced to make no further market commentaries in this post. However all the usual charts, data and trading system updates are appended.  

  Nifty Futures - Intra-day Chart

Update for 11th March 2011

     Another Narrow Range Low Volume Day, But What Next ?

• Nifty futures opened lower on Thursday and directionless trading was seen for the entire session. Volumes also remained comparatively lower.
• There were just two outcomes after the completion of the session. First, Nifty futures closed with some losses for the day. Second, another subtle gap has been left in the charts as the previous day's last traded price ( 5532 ) and the official close price ( 5542 ) were not reached by the contracts on Thursday.  
• Sometimes, these subtle gaps may indicate further weakness in the markets. ( However, the effects of these gaps are lesser when such gaps occur in a trading range. ) 
• Since the market's technical position has not changed much during the day, no further commentaries are added in this post.
• However, the losses being suffered by the US markets on Thursday may have it's negative effects, especially at the open on Friday.

  Nifty Futures - Intra-day Chart

  Nifty Futures  - Daily Chart