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 Nifty. For Sensex the range is 14800 to 16000.
Capital goods stocks outperformed the market.IT stocks were weakest but positive.
Short term trend down.
Medium term trend up.
Medium term trend will turn down if nifty closes bellow 4360 & 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 (+ve):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, Reliance industries, RPL.
This entry was posted on Wednesday, August 19th, 2009 at 12:07 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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