Update for 2nd June 2011

   Market Spooked by U S Fall !

• Nifty futures as well as the underlying index almost reached the lower end of the 5600 - 5650 target area described in the post dated 30th May 2011.
• Yesterday's post had indicated a slow down or a pause in the up trend at the then levels of 5575.
• Now comparatively large losses in the U S markets have spooked the uptrend and market has opened lower. As the quantum of the U S losses is bigger than normal,  doubts can arise as to the continuation of the up trend.
• Therefore, if the market is unable to recover in the next two days or so, the uptrend may fail as risk levels are already at high levels because of all round uncertainties prevailing at these times.   

   Nifty Futures - Intra-day Chart 

     Nifty Futures  - Daily Chart  

Update for 1st June 2011

  Positive Momentum Remains Intact !

• The positive momentum remains intact in today's trading too. However, some slow down or a pause in the uptrend may be in the offing.
• Monday's buy signal has already generated a profitable excursion of 100 points in the Nifty Futures. 
• As the technical position is unchanged, this update is limited to the very basics.

  Nifty Futures - Intra-day Chart  

      Nifty Futures  - Daily Chart