Market today

 Wednesday  market found support near 4780 on Nifty. Intraday resistance above 4860. RIL showed strength today. Bank stocks were weaker than market. IT stocks did better than market.  Global market trend was down during Indian market hours.  

American index Nasdaq has started medium term downtrend on Tuesday.

-                                                                                                                              -                                                                                                                                                                                                                                   Market Breadth : 0.55   

Market Trends : Short  term trend of market is down.  Medium term trend is Down.  Medium term trend of market will turn Up if market closes above 5180 & 17500 for Nifty & Sensex respectively.

Support levels for Nifty are   4700 , 4560 , 4400 , 4360 , 3870.

Resistance levels for Nifty are 4840 ,4900 ,4920 , 4980 , 5050 , 5120 ,5220.

Breakout + Fresh Medium term Downtrend started in  Tata Steel , GMR Infra , HDFC Bank  , Maruti , ONGC , PFC, Simens ,  .

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

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This entry was posted on Wednesday, October 28th, 2009 at 3:53 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.