Nifty Today

Wednesday Nifty found intraday support near 5000. Resistance near 5070. Bank  stocks were the weakest  while IT stocks were the strongest. Global market trend was directionless during  Indian market hours.  

Global trend not supporting the medium term downtrend in Nifty.

-                                                                                                                         -                                                                                                                                                                                                                              Market Breadth :  1.80

 Market Trends : Short  term trend of market is down.  Medium term trend is DOWN.  Medium term trend of market will turn up if market closes bellow 5183 & 17350 for Nifty & Sensex respectively.

Support  levels for Nifty are  5020, 4985 , 4900 ,  4855 , 4 700. 

Resistance levels for Nifty are 5070, 5180 , 5330 , 5550 , 5700, 6200

Breakout  Stocks of the day :  TCS.

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

Tags: breakout, Breakout Stock, breakout stocks, characteristics of trend, DAILY CALLS, Daily Nifty Analysis, Global market, medium term trend, nifty resistance, nifty support, technical analysis of nifty, trading strategies, Trading tips

This entry was posted on Wednesday, December 16th, 2009 at 3:51 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.