Market Today
Wednesday market erased yestearday’s down move. Support 4670 on NIfty. Resistance above 4730. High volatility. Global market trend was Up during Indian market hours.
4850 Target for Pullback rally. If crossed new medium term up trend will start. Some stock may resume downtrend tomorrow.
Market Breadth : 7.30
Market Trends : Short term trend of market is Up. Medium term trend is Down. Medium term trend of market will turn Up if market closes above 4855 & 16370 for Nifty & Sensex respectively.
Support levels for Nifty are 4 700, 4670 , 4560 , 4520 , 4480 , 4400 , 4360 , 3870.
Resistance levels for Nifty are 4850 , 4900 .
Breakout Stocks : Rcap , Unitech , NTPC , LIC HSG, IDFC.
Reading Glossary is recommended for better understanding of this column. -
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This entry was posted on Wednesday, November 4th, 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.
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