Market Today

Friday  market opened with huge gap in the morning & later on there was tremendus  bear power till 4700 on NIfty. Resistance above 4840. High volatility .Global market trend was directionless during Indian market hours.  

Poor weekly closing with long term impact.

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

-                                                                                                                              -                                                                                                                                                                                                                                   Market Breadth : 0.75   

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 , 4520 , 4480 , 4400 , 4360 , 3870.

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

Breakout + Fresh Medium term Downtrend started in  Bharti Airtel , Axis bank , HDIL , Jindal Steel Power , LIC Hsg , SAIL , Syndicate Bank ,  .

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

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This entry was posted on Friday, October 30th, 2009 at 3:46 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.