Market Today
Tuesday Market easily crossed the resistance of 5000 on Nifty. Now market may test 5060. Intraday support 5000. Chances of short term downtrend remains moderate due to F&O expiry. RIL weaker than Market. IT stocks outperformed market. Global market trend was positive during Indian market hours.
Market Breadth : 1.80
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 5000 , 4940 , 4900 , 4840 , 4800 , 4780 , 4730 , 4680 , 4650 , 4580.
Resistance levels for Nifty are 5030 , 5060 , 5220 , 5470 ,5650 , 5800 , 6380.
Breakout Stocks : Moser baer , ITC , HDFC , GMR Infra. , BEL , Zee Ent. , Uco Bank , Mphasis , Alstom Proj. , India Infoline , Infosys. Bharti Airtel was the only negative breakout.
Compressed Stocks : Aditya Birla Neo , Sesa Goa , Power grid , Kotak Bank , JSW Steel , Jindal steel , GAIL , BOI , United Spirit .
(Reading Glossary is recommended for better understanding of this column)
Tags: breakout stocks, Daily Nifty Analysis, Global market, glossary technical analysis, medium term trend, RIL, short term trend, stock, stock trend, Techncial Analysis
This entry was posted on Tuesday, September 22nd, 2009 at 3:43 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.
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