Market Today

Friday: Nifty 4528 Sensex 15240.

Market Tested the support of 4400 on Nifty & bounced up from there.

 Later on it  crossed  yestearday’s resistance of 4480.

It seems today Market has decided to test the level of  4620 & 15560 on Nifty & Sensex respectively above which the
medium term downtrend will end.

 

Auto stocks outperformed the market. Public sector stocks weakest but positive.

Short term trend is up.

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

 

From last one month Nifty is Stuck in the range of 4400 to 4700.

For Sensex ,the range is 14800 to 16000.

Breakout from these levels will bring fresh positions.

Market Breadth

Indian Advance/Decline ratio:4.90

Support
  Nifty :4480 ,4400 ,4360 , 4233 , 4120 , 3900

 

  Sensex : 14400 , 14000 , 13240, 12950 ,11500 ,8700.

Resistance
   Nifty: 4560, 4600, 4730, 5170, 5370, 5970.

 

  Sensex:15200, 15500, 16000, 17100, 19500.

 

Breakout Stocks:
+ve : Yes Bank,Hcl Tech, Ansal Properties.

 

Compressed Stocks:
Unitech, Tata steel, Suzlon ,SAIL, Sesa Goa, Mphasis,Maruti,L&T, JWS Steel, JP Asso, HDIL, HUL.
(Reading Glossary is recommended for better understanding of this column)
 

 

This entry was posted on Friday, August 21st, 2009 at 5:05 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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