Nifty Technical Analysis

Wednesday Nifty found its support near 5200. Intra day resistance  for Nifty was  near 5220. Capital Goods  stocks were the strongest for the day while FMCG stocks were the weakest. Global market trend was up during  Indian market hours.

Directionless week . Nifty trading with very low Volatility , lowest in last two years.

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Market Breadth : -

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

Intermediate trend of market will turn DOWN if market closes bellow 5160 & 17323 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 : Tata Chemical , SBI.

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.
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• Canara Bank 5% in 4 days
• Reliance Infra. 3% in 3days

Tags: Breakout Stock, Daily Nifty Analysis, medium term trend, nifty support, volatility

This entry was posted on Saturday, January 2nd, 2010 at 4:14 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.