Nifty Today

Thursday Nifty found intraday support near 5020. Intraday resistance near 5070. Oil & gas stocks were the weakest  while Consumer durables stocks were the strongest for the day . Global market trend was down during  Indian market hours.  

 Nifty’s sideways move of last two trading days  is part of downtrend.

-                                                                                                                         -                                                                                                                                                                                                                              Market Breadth :  1.70

 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 :  Pantloon.

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

Tags: Daily Nifty Analysis, medium term trend, medium term trend of stocks, nifty resistance, technical analysis of nifty, trading strategies, Trading tips

This entry was posted on Thursday, December 17th, 2009 at 7:48 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.