Trends Today

Market Today

Thursday  Market opened with gap on downside &  tried to  hold 5050 on Nifty. Then market faced selling pressure till 4970.  Capital Goods stocks underperformed the market.  FMCG stocks did better than market. Global market trend was down  during  indian market hours.  

 Protect Profit.

-                                                                                                                              -                                                                                                                                                                                                                                   Market Breadth : 0.15   

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 4940 & 16620 for Nifty & Sensex respectively.

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

Resistance levels for Nifty are   5050 , 5120 ,5220 ,  5265 , 5470.

Breakout + Fresh Medium term DOWNtrend started in  RPower , L&T , HeroHonda , IDBI , IOB , JSW Steel , Lupit Labs , Ranbaxy , RCap , RInfra , TaTa Communication , Unitech , Voltas  , Dr. Reddy’s Lab.

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

Tags: Daily Nifty Analysis, Global market, medium term trend, medium term trend of stocks, Nifty, Nifty 50, nifty daily tips, nifty index, nifty resistance, nifty support, Nifty Tips, technical analysis of nifty

This entry was posted on Thursday, October 22nd, 2009 at 3:56 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.