Marekt Today
Friday Market rangebound . Found support near 4940 on Nifty. Faced selling pressure near 4980. Again a strong weekly closing. Bank Stocks were weak. Auto stocks did better than market. Global markets were weak and negative during Indian market hour.
Market Breadth : 1.27
Market Trends : Short term trend of market is up. Medium term trend is UP. Medium term trend of marekt will turn down if market closes bellow 4780 & 16120 for Nifty & Sensex respectively.
Support levels for Nifty are 4940 , 4900 , 4840 , 4800 , 4780 , 4730 , 4680 , 4650 , 4580.
Resistance levels for Nifty are 5000 , 5060 , 5220 , 5470 ,5650 , 5800 , 6380.
Breakout Stocks : Reliance Infra , Maruti , RPower , JP Asso. , Bharat Forge , (+ve ), Sun Pharma , ICICI Bank , CanBank (-ve ) .
Compressed Stocks : BHEL , RIL , TCS , PNB , Oracle Fin. , L&T , Idea , Wipro , Sterlite.
Breakout Stocks PERFORMANCE : SesaGoa +17% in 6 trading days. , Hindalco +21% in 8 trading days. , IOB +17% in 5 trading days. , SBI +14% in 8 trading days. (See Previous Updates for details.)
(Reading Glossary is recommended for better understanding of this column.)
Tags: breakout stocks, glossary technical analysis, market breadth analysis, medium term trend, Nifty, nifty resistance, nifty support, share market, short term trend, sotck market, support for nifty, technical analysis of nifty
This entry was posted on Friday, September 18th, 2009 at 4:11 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.
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