Nifty Today

Thursday Nifty was trading in the zone of  resistance  5140-5190. It failed to close above 5180 & start Intermediate uptrend. Intra day support for Nifty was  near 5130. Auto  stocks were the strongest for the day. Global market trend was up during  Indian market hours. 

If  Nifty closes above 5180 then the probable targets will be 5330 ,  5570 , 5950.

Above 5200 on Nifty  the price moves will be very fast.

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Market Breadth : 1.2

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 , 5570 , 5630 ,  5740,5825 , 5950 , 6200

Breakout  Stocks of the day : TataMotors.

Reading Glossary is recommended for better understanding of this column.

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Tags: Breakout Stock, breakout stocks, Daily Nifty Analysis, glossary technical analysis, market breadth analysis, medium term trend, medium trend of stocks, nifty support, Nifty target, Nifty Tips, sensex, share trading, short term trend, sotck market, stock, stock market, support for nifty, technical analysis of nifty, trading range, trading rules, trading strategies, trend

This entry was posted on Thursday, December 24th, 2009 at 3:50 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.