Trends Today

Market Today

TUESDAY:
Market faced selling  near 4640 on NIfty in morning and had intraday fall. Tested 4580 on downside and
bounced back.Nifty Crossed 4640 but could not take out 4660 for three hours.

World markets were weak during Indian market hours.

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: 0.90
Support
   Nifty :  4580, 4560, 4480 ,4400 ,4360 , 4233.
  Sensex : 15500 ,14400 , 14000 , 13240, 12950.
Resistance
   Nifty:  4660 , 4730,4780,5050, 5170, 5370, .
  Sensex:1, 15700 ,16000 ,16960 , 17100, 19500.

 
Breakout Stocks :

Wipro,  TechMahindra,  TataMotors,  Ranbaxy,  Patni comp,  NTPC,  Educomp,  Mphasis, Voltas, Thomas Cook, Tanla Soln, Sintex, Salen Expl, Satyam, REC, ROLTA, Polaris, Orchid Chem, Marksans pharma, Madhucon, Karuturi Global, ISMT, Indotech Trans, Ind Swift, Gitanjali gems ,Arvind, Aptech, Amara Raja.

Compressed Stocks:

  ONGC, Maruti, JP ASSO, ICICI bank, HUL, GAIL, BOI, Apolo Tyres.

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

This entry was posted on Tuesday, August 25th, 2009 at 4:33 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.