Mr. Market

Market opeaned weak in the morning. There was sharp recovery in it.
It tasted the level of 4490(Nifty) but failed to sustain there.
From last one month Nifty is  trading in a range of 4400 to 4700.
For Sensex the range is 14800 to 16000.

Capital goods stocks outperformed the market.

 IT stocks were weakest but positive.

Short term trend up.
Medium term trend up.

Medium term trend will turn down if Nifty closes bellow 4360 &

 Sensex bellow 14650.

Market Breadth
Indian Advance/Decline ratio: 3.5

 
Support
  Nifty :4360 , 4233 , 4120 , 3900 ,3750.
 Sensex : 14400 , 14000 , 13240, 12950 ,11500 ,8700.

Resistance
   Nifty: 4538, 4600, 4730, 5170, 5370, 5970.
  Sensex: 15200, 15500, 16000, 17100, 19500.

Breakout  Stocks  

Simens ltd,  Sasken , Rolta , PFC, Mphasis, LIC HSG Fin. , Gspl,

Guj.INd.Power ,Delta corp. , Bhushan steel , Balaji Tele , Andhra Bank.

Compressed stocks:

 Ambuja Cement , Hero Honda , Kotak Bank , Patni Comp , RIL , RPL.

(Reading Glossary is recommended for better understanding of this column.)

This entry was posted on Tuesday, August 18th, 2009 at 4:21 pm and is filed under Daily Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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