Trends Today

Bull’s Need 16000.

WEDNESDAY:
NIFTY COMPRESSED DAY.Indecisive & Choppy Market today. It faced selling pressure near 4700 on Nifty. Breaking this level is the Bull’s need.If 4720/16000 is  not broken then market may test downside levels again.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.

Bank stocks weaker than market.World markets were weak during Indian market hours.Some with minor gains.Inidan market was strongest today.
Market Trends
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: 1.07
Support
   Nifty :  4660, 4580, 4560, 4480 ,4400 ,4360 , 4233.
  Sensex : 15500 ,14400 , 14000 , 13240, 12950.
 

Resistance
   Nifty:  4695 , 4730,4780,5050, 5170, 5370, .
  Sensex: 15800 ,16000 ,16960 , 17100, 19500.

Breakout Stocks : TCS,Sterlite,Infosys,Aban offshore, Guj Nre ., Guj Mineral, GE Shipping, GMR Infra,Geojit Fin.,Everonn,Escorts,Emco,Deccan Chronical, Biocon,Arvind,Ansal Prop.,Anant raj,Alok Ind,Allied Digital,ABG Shipyard,(+ve). HDFC Bank(-ve)

Compressed Stocks: Axis Bank,BOI,Cipla,ICICI Bank,IDBI,Idea Cell,IDFC,IFCI,JP ASSO,L&T,ONGC,Reliance Capital,Rcom,SAIL,TATA TELE,Unitech.Dena Bank,Dhampur Suger,Excide Ind.,Nagarjun Const, Parswanath Dev,Renuka Suger,United Phospharus,Vijay Bank.

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

This entry was posted on Wednesday, August 26th, 2009 at 3:51 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.