Trends Today

Market Today

Most probabaly its  breakout for market  today. It faced selling pressure near 4700 on Nifty in morning but later on firmly crossed 4720. Strength in Reliance Industries is behind the Nifty Breakout. RIL has started a new medium term uptrend today. Bank stocks Stronger than market. World markets were positive during Indian market hours.

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: 2.10

Support
   Nifty :  4690, 4560, 4480 ,4400 ,4360 , 4233.
  Sensex : 15800, 15500 ,14400 , 14000 , 13240, 12950.
Resistance
   Nifty:   4750,4780,5050, 5170, 5370, .
  Sensex:1, 16000 ,16960 , 17100, 19500.

Breakout Stocks: Bharti Airtel ,Reliance  Capital,JP Asso., IDBI, ICSA, CESC,  Oriantal Bank,  Voltas, Omaxe, Uttam Steel, Thomas Cook, Sunflag Iron, OCL, KS Oils, Jindal Photo, Dalmia Cement , Crompton Gr., City Union Bank, Binani Cement, .

Compressed Stocks:  Adani Power , BOB, Ambuja Cement, HUL , EMCO, IVRCL, Nagarjun Cons, Purvankara Proj.

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

This entry was posted on Friday, August 28th, 2009 at 5:18 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.