Trends Today

Wednesday: Nifty  4394. Sensex 14800.
Market experianced sharp fall for two hours after opening.It tasted the key support level of 4360 on Nifty.
It bounced from there on intraday charts.From last one month Nifty is Stuck in the range of 4400 to 4700.
For Sensex ,the range is 14800 to 16000.Today is the  second time  market has broken this range.
Breakout from these levels will bring fresh positions.

Auto stocks were weakest today.

Short term trend is  down. Medium term trend is down.

Medium term trend will turn to up if Nifty & Sensex closes above 4620 & 15560 respectively.

Market Breadth
Indian Advance/Decline ratio:0.5

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

Resistance
  Nifty: 4480 ,4538, 4600, 4730, 5170, 5370, 5970.
  Sensex: 15150 ,15200, 15500, 16000, 17100, 19500.

 
Breakout Stocks:
+ve : Sonata Software, CESC.
-ve:  Rcom,Glenmark Pharma, BOI.

Compressed Stocks:   DLF, ITC.

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

This entry was posted on Wednesday, August 19th, 2009 at 5:46 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.