Update for 3rd June 2011

    Market Remains Resilient !

• Nifty futures and the market as a whole have retained the positive momentum as proved by the new swing highs today morning.
• We had indicated that if the market does not recover in two trading days, the uptrend might dissipate away. Though market has recovered, it might find resistance just above today's trading range in the 5600 to 5650 area. Please read the post dated 30th May for a detailed analysis.   

    Nifty Futures - Intra-day Chart  

  Nifty Futures  - Daily Chart 

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