Market Today

Thursday market faced selling near 5150 on Nifty. It found support near 5080. Metal Stocks did the best today. IT stocks underperformed the market. Global market trend was weak during indian market hours.    

Moderate chances of short term trend turning down.                                                                                                                                                                                                                                  ———————————————————————————————–

Market Breadth : 1.3                                                                                                                                                                                                                                    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 united Spirits , Union Bank , Ashok Layland , Cummins.

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

Trendstoday Daily NewsLetter Performance

Dewan HSG. 35% Profit in 2 weeks. , Sesa Goa 17% Profit in 4 trading days , CanBank 8% Profit in 4 trading days.  Bharti , Idea 15% profit in downfall

HAPPY DIWALI

Tags: Daily Nifty Analysis, medium term trend of stocks, Nifty, nifty resistance, nifty support, technical analysis of nifty

This entry was posted on Thursday, October 15th, 2009 at 3:36 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.