Trends Today

Market Today

Monday market faced selling near 5000 on Nifty in morning but in afternoon it crossed that level and short term trend turned up. 4900 range on Nifty is proving to be good support for market. Bank stocks & IT stocks did better in market. 

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Market Trends : Short  term trend of market is up.  Medium term trend is UP.  Medium term trend of market will turn down if market closes bellow 4940 & 16620 for Nifty & Sensex respectively.

Support levels for Nifty are 5050 ,5000 ,4920 ,4900 ,4840 .

Resistance levels for Nifty are 5120 ,  5220 ,  5265 , 5470.

Breakout + Fresh Medium term UPtrend started in Tata Steel , Syndicate Bank , ONGC , Lanco Infra , Kotak Bank .

Reading Glossary is recommended for better understanding of this column.                                                                                                                                                  - 

Dewan HSG. 35% Profit in 2 weeks. , Sesa Goa 13% Profit in 4 trading days , CanBank 8% Profit in 4 trading days. RCOM , Bharti , Idea 15% profit in downfall.

Tags: medium term trend of stocks, medium trem trend, Nifty

This entry was posted on Monday, October 12th, 2009 at 4:20 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.