Nifty Today
Monday Nifty was holding intraday support of 4960 till 3 pm but later on cracked that level. Intraday resistance near 4990. Metal stocks were the weakest while consumer durable stocks were the strongest for the day . Global market trend was mix during Indian market hours.
Last week Nifty had 4th Poor weekly closing in three months. Its warning to investors for protecting profit. Also the intermediate downtrend has started gaining momentum in last two days.
- -
Market Breadth : 0.30
Market Trends : Short term trend of market is down. Intermediate trend is DOWN.
Intermediate trend of market will turn up if market closes bellow 5183 & 17350 for Nifty & Sensex respectively.
Support levels for Nifty are 4900 , 4855 , 4800 , 4 700.
Resistance levels for Nifty are 4985 , 5020, 5180 , 5330 , 5550 , 5700, 6200
Breakout Stocks of the day : Wockhardt .
Reading Glossary is recommended for better understanding of this column. -
Tags: breakout stocks, DAILY CALLS, Daily Nifty Analysis, intermidate trend, market breadth analysis, medium term trend, medium trend of stocks, Nifty, Nifty 50, nifty daily tips, nifty index, Nifty target, Nifty Tips, sensex, share market, sotck market, stock market, technical analysis of nifty, trading strategies, Trading tips, trend
This entry was posted on Monday, December 21st, 2009 at 3:40 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.
Leave a Reply