Market Today

Friday  market was opened with bullish gap. As mentioned yestearday  the market tried to test 4855 zone on Nifty.  Support 4780 on NIfty. High volatility. Global market trend was  up during Indian market hours. Indian market was the strongest one today.

 Two Possibilities :

1. Nifty will fail to cross 4855 & medium term down trend  will resume.

2. Nifty will cross 4855 to test previous high of 5180.

 -                                                                                                                         -                                                                                                                                                                                                                                Market Breadth : 2.10  

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 :  FinTech , Mphasis.

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

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Tags: technical trend

This entry was posted on Saturday, November 7th, 2009 at 7:21 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.