Market Today

Thursday  market was directionless between 4600 & 4670 till 1.30 pm. Short term trend was down intraday but with the sharp up move it seems the market has decided to test 4855 on Nifty. Support 4670 on NIfty.  High volatility. Global market trend was  down during Indian market hours. Indian market was the strongest one today.

 4850 Target for Pullback rally. 

 -                                                                                                                         -                                                                                                                                                                                                                                Market Breadth : 5.60  

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 , 5180 , 5550 , 6200.

Breakout  Stocks :  Lupin , IFCI , Wockhardt, RInfra , RCap ,

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

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Tags: breakout stocks, Bull market, characteristics of trend, compressed stocks, DAILY CALLS, Daily Nifty Analysis, glossary technical analysis, market breadth analysis, medium term trend, medium term trend of stocks, nifty resistance, nifty support, RIL, sensex, share market, share trading, short term trend, sotck market, stock market, Stock market bubble, Stock trends, technical analysis of nifty, trading rules, trading strategies, Trading tips

This entry was posted on Thursday, November 5th, 2009 at 3:45 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.