Trends Today

Nifty Back In The Range.

Monday Market erased the Friday’s gains.Now it has again entered the 6 weeks old range of 4400 to 4700 on Nifty. For Sensex the range is 14800 to 16000.Breakout from this range will bring fresh positions.Holding 4400 on NIfty is  favourable  for investors. I.T. stocks were weakest today.  World markets were weak today during indian market hours.

 Market Trends
Short term trend is Down.
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: 1.33

 Support
   Nifty :  4600, 4560, 4480 ,4400 ,4360 , 4233.
  Sensex : 15800, 15500 ,14400 , 14000 , 13240, 12950.
Resistance
   Nifty:   4690 , 4750, 4780, 4670, 5050,  5170,  5370, .
  Sensex:    16000 ,16960 , 17100, 19500.

Breakout Stocks: Unitech , Maruti , M&M , IOB , Chennai Petro , BOI, BPCL, BOB, Satyam, Uttam Steel, Triveni Engg., Sunflag Iron,  Renuka Sugers, REC, PVR, Petronet LNG, Orbit Corp., Kesoram Ind.,  ISPAT, IBulls Fin., IL&FS, ICSA, HPCL, Guj NRE.,  Guj Ind Power, Godrej Ind., GATI, Elcon Eng., Dalmia Cement, City Union Bank,  Amtek Auto., Aftek, Akruti City.

Compressed Stocks: Axis Bank, HCL Tech, Sterlite , Ibulls Real , Lanco Infra, Polaris, PTC , Punj Lyd.

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

This entry was posted on Monday, August 31st, 2009 at 3:49 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.