Intraday Stock Market Trend Monday 6 June :- My Dear visitor’s, Indian equity benchmarks closed Friday’s 3rd June 2011 Trade on a negative note amid volatility seen in the second half of the trade. The market was quite positive in the morning trade seemed like good bounce back, but those gains shaved off in later part of the day. The Spot Nifty had crossed the 5600 mark nearly at three weak high but could not hold that level due to profit booking in heavy weights. Indices continued the downtrend for 3rd consecutive session. More precisely Trader’s/Investor’s are reluctant to hold any stocks, especially on the Friday for next two days holiday session, where the fear of uncertainty still prevails. Now as per the present situation, I personally feel that 5480 is a very important level of Spot Nifty. So it may possible, that if we break the support of 5480, Then we may see another 100-150 points bash on the downside. Above 5600 level of spot nifty is the strong indication of mid term positive trend. Overall for the time being we are going to be slightly sideways. In view of above, trade more cautiously now. try to save your hard earned capital and wait for the good time.
