Trends Today

Nifty Analysis

Market opened near the key point of 4600 on Nifty.(See Resistance levels in Friday’s updates)

Nasdaq(2020) has made new high on Friday. so lets see by breaking 16000 on Sensex our market follows it it or not.

From last 5 weeks 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.

Short term trend is up.
Medium term trend is up.
Medium term trend will turn to down if Nifty & Sensex closes bellow 4350 & 14680 respectively.

Market Breadth
Indian Advance/Decline ratio:8

Support
  Nifty :  4510, 4560, 4480 ,4400 ,4360 , 4233.
  Sensex : 15200 ,14400 , 14000 , 13240, 12950.
Resistance
   Nifty:  4730,4780,5050, 5170, 5370, 5970.
  Sensex:1, 16000 ,16960 , 17100, 19500.

Breakout Stocks: Zee Tele,Walchand Ind.,Videocon Ind.,Suven Life,Sobha Dev.,Praj Industries,MIRC,IVRCL,India Bulls Financial, IBULLS SEC ,Elcon Eng.,Brigade Ent.,Dewan Hsg,Cairn India , Bombay Dying , Ashok Leyland , BGR Energy,

Compressed Stocks:Wipro,Union Bank,TATA Tele,Tata Steel,VSNL,Suzlon,SAIL,Sesa Goa,RIL,RPL,RNRL,Reliance Capital,M&M,Kotak Bank,JSW Steel,Infosys,IDBI,Glenmark Pharma, DLF,GAIL,CIPLA,BHARTI AIRTEL,BOI,AXIS BANK,ACC,AMBUJA.

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

This entry was posted on Monday, August 24th, 2009 at 5:52 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.