Trends Today

Market Today

Wednesday Market failed to sustain above 5000 on Nifty. Faced selling pressure near 5020. IT stocks were weak today. Global Market trend was directionless during Indian Market hours. Protect Profit.

Market Trends : Short  term trend of market is down.  Medium term trend is UP.  Medium term trend of market 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 ,   5030 , 5060 , 5220 , 5470 ,5650 , 5800 , 6380.

Breakout Stocks : L&T ,  JP Asso. ,  Cipla were among negative breakout stocks.

Compressed Stocks : Tata Steel , RIL , SBI , Sesa Goa , PNB , Maruti , Cummins.

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

This entry was posted on Wednesday, September 23rd, 2009 at 3:50 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.