Nifty Today
Monday Nifty was holding intra day support of 4975 throughout the day. Surprisingly it has closed near the resistance of 4985. Metal stocks were the strongest while IT stocks were the strongest for the day. Global market trend was up during Indian market hours.
Moderate chances of short term up trend.
On Friday Nifty had 4th Poor weekly closing in last three months. Its warning to investors for protecting profit.
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Market Breadth : 2.90
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 : SAIL , NTPC .
Reading Glossary is recommended for better understanding of this column.
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This entry was posted on Tuesday, December 22nd, 2009 at 6:42 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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