Market Today

Thursday  market found support near 4760 on Nifty in the morning. Resistance above 4820. High volatility. Bank & Metal  stocks were weaker than market.Global market trend was down during Indian market hours.  

Market in strong downtrend. Moderate chances of short term uptrend if 4670 holds  on Nifty in coming days.

-                                                                                                                              -                                                                                                                                                                                                                                   Market Breadth : 0.25   

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 ,  4670 , 4560 , 4400 , 4360 , 3870.

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

Breakout + Fresh Medium term Downtrend started in  BOI , BEL , Kotak Bank.

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

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Tags: breakout, Breakout Stock, Bull market, characteristics of trend, Daily Nifty Analysis, intermidate trend, medium term trend, medium term trend of stocks, nifty resistance, nifty support, sensex, share market, share trading, sotck market, Techncial Analysis, trading strategies, Trading tips

This entry was posted on Thursday, October 29th, 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.