Nifty Daily

Tuesday Nifty was trading above the 5180 level  for the whole day. It has closed above 5180 & started  Intermediate uptrend. Intra day support for Nifty was  near 5180. Consumer Durable  stocks were the strongest for the day. Global market trend was up & weak during  Indian market hours.

A Compressed bar  formation on Nifty chart today.

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Market Breadth : 1

Market Trends : Short  term trend of market is up.  Intermediate trend is UP.

Intermediate trend of market will turn DOWN if market closes bellow 4943 & 16577 for Nifty & Sensex respectively.

Support levels for Nifty 5180 , 4985 , 4800 , 4 700.

Resistance levels for Nifty are  5330 , 5570 , 5630 ,  5740,5825 , 5950 , 6200

Breakout  Stocks of the day : Patni Comp , RPower.

Reading Glossary is recommended for better understanding of this column.

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Tags: breakout, Breakout Stock, DAILY CALLS, Daily Nifty Analysis, Global market, market breadth analysis, medium term market trend sensex, medium term trend, Nifty, Nifty 50, nifty daily tips, nifty resistance, nifty support, share market, sotck market, stock, technical analysis of nifty

This entry was posted on Tuesday, December 29th, 2009 at 3:41 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.