Update for 10th June 2011

    Listless Trading Continues !

Nifty future is still trading in the narrow range 100 point range between 5480 and 5580. Though, Wednesday's inside day candle was broken downwards on Thursday, the contract never broke the 5480 minor support. So long as the Nifty contracts trades in the range, the direction of the next move remains unpredictable.

     Nifty Futures - Intra-day Chart    

  Nifty Futures  - Daily Chart 

Update for 9th June 2011

     Market Losing Ground Again !

Nifty future and major indices closed in the neutral momentum territory as on yesterday. Yesterday's trading was also denoted by an inside day candle in the daily charts. Now, it seems that the market is starting to lose ground again as the low of the inside day candle is broken by the Nifty future. If no recovery is ensuing in the short term, especially from the minor support around the 5480 levels, Nifty future may revisit the lower end of old trading channel.

     Nifty Futures - Intra-day Chart  

  Nifty Futures  - Daily Chart