Nifty Technical Analysis

Wednesday Nifty found its support near 5165. Intra day resistance  for Nifty was  near 5190. Consumer Durable  stocks were the strongest for the day while FMCG stocks were the weakest. Global market trend was down during  Indian market hours.

High chances of short term downtrend.  Nifty Volatility at 2009 low.

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Market Breadth : 0.60

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  4985 , 4800 , 4 700.

Resistance levels for Nifty are 5180, 5330 , 5570 , 5630 ,  5740,5825 , 5950 , 6200

Breakout  Stocks of the day : Cox & Kings , Jyoti Structure , Jindal Steel P.

Reading Glossary is recommended for better understanding of this column.

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SURPRISE Your Friends with the PROFIT!

• Thinksoft  Global  20% gains in ten days.
• Hindalco 12% gains in three days.
• Cox & Kings 8% in six days.
• Jyoti Structure 10% in 5 days.
• Deccan Chronicle 10% in 3 days.
• Canara Bank 5% in 4 days
• Reliance Infra. 3% in 3days

Tags: Breakout Stock, breakout stocks, Bull market, Daily Nifty Analysis, medium term trend, medium trend of stocks, Nifty 50, nifty daily tips, nifty resistance, Nifty Tips, sensex, share market, share trading, stock market, technical analysis of nifty, trading strategies, Trading tips, trend

This entry was posted on Wednesday, December 30th, 2009 at 3:49 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.