Market Today

Thursday  market was directionless between 5010 & 4970 on Nifty till 2 pm. After breaking that level Nifty found support near 4920.  IT Stocks were strongest today. Metal & Banking stocks were weakest today.  Global market trend was down during Indian market hours. 

High chances of short term downtrend.

  -                                                                                                                         -                                                                                                                                                                                                                                Market Breadth :  2.80  

Market Trends : Short  term trend of market is Up.  Medium term trend is Up.  Medium term trend of market will turn Down if market closes above 4540 & 15330 for Nifty & Sensex respectively.

Support levels for Nifty are 4940 , 4900,  4855 , 4 700,  4670 , 4560 , 4520.

Resistance levels for Nifty are   5030, 5060 , 5090 ,  5180 , 5550 , 6200.

Breakout  Stocks of the day : SBI , Praj Ind .

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

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This entry was posted on Thursday, November 12th, 2009 at 3:50 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.