Nifty Today

Wednesday Nifty was an example of classic trending day.  IT  stocks were the strongest for the day. Global market trend was up during  Indian market hours. 

As mentioned on Monday market has started a short term up trend. Lets see what happens at 5180 , the level above which the Intermediate trend will turn up.

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Market Breadth : -

Market Trends : Short  term trend of market is up.  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 are5020, 4985 , 4800 , 4 700.

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

Breakout  Stocks of the day : NTPC.

Reading Glossary is recommended for better understanding of this column.

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Tags: DAILY CALLS, Daily Nifty Analysis, medium term trend, medium term trend of stocks, Nifty 50, nifty resistance, Nifty target, Nifty Tips, technical analysis of nifty

This entry was posted on Thursday, December 24th, 2009 at 8:27 am 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.