Trends Today

High Probability of Short Term Downtrend.

Thuresday:Indecisive & Choppy Market today forming a compressed activity. It faced selling pressure near 4700 on Nifty. Breaking this level is bull’s need.If 4720/16000 is  not broken 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.
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: 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 : United Spirits ,Welspun Guj.,Vediocon Ind.,Sintex,SCI,Satyam Comp,Radico Khaitan,PTC,Prakash Ind.,Omnitech Info.,NALCO,Mundra Port,M&M,Guj. Minral,Graphite I., PFC ,Excide Ind,Divi’s Lab,.DCB,Chambal fert,BRFL,Bombay Dying,Aries Agro,Anant Raj,(+ve), Patni comp,Tata Steel,Geomatric Soft.,Aftek,(-ve)

Compressed Stocks: Glenmark,GMR,HUL,ICICI bank, JSW Steel,SAIL,Suzlon,Tata motor,Yes Bank,Austral Coke,Ballarpur Ind,Brandhouse Retails,Indiabulls Fin,KS Oils,TaTa Motors,TechMahindra,TVS Motors,Vishal Info,.

This entry was posted on Thursday, August 27th, 2009 at 8:43 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.