Nifty Today
Friday Nifty moved in a two day range of 5100 to 5180 . Market just not sustaing above 5140. Auto stocks were the weakest while pharmacy stocks were stronger than market. Global market trend was down during Indian market hours.
A cluster of three days trading range is formed on Nifty chart. Expect a decisive breakout soon. Two thoughts in the market :
- Analysts anticipating Double Top pattern are recommending Exit.
- Trend Followers holding long positions due to intact uptrend.
- - Market Breadth : 0.98
Market Trends : Short term trend of market is down. Medium term trend is Up. Medium term trend of market will turn Down if market closes bellow 4930 & 16630 for Nifty & Sensex respectively.
Support levels for Nifty are 5070 , 5020, 4900 , 4855 , 4 700.
Resistance levels for Nifty are 5180 , 5330 , 5550 , 5700, 6200
Breakout Stocks of the day : Biocon.
Reading Glossary is recommended for better understanding of this column. -
Tags: Daily Nifty Analysis, free technical analysis, Free trading tips, nifty resistance, nifty support, stock market, technical analysis of nifty, trading strategies, Trading tips, trend
This entry was posted on Friday, December 4th, 2009 at 3:54 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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