Nifty Technical Analysis
Friday Nifty was weak for the whole day . Intra day support for Nifty was near 5240 & resistance near 5270. IT stocks were the weakest for the day & Capital goods stocks were the strongest. Global market trend was up during Indian market hours.
Pause in the uptrend. Bank Nifty has remained weaker than Nifty in this uptrend.
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Market Breadth : 0.60
Market Trends : Short term trend of market is DOWN. 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 5240 , 5180 , 4985 , 4800 , 4 700.
Resistance levels for Nifty are 5330 , 5570 , 5630 , 5740,5825 , 5950 , 6200
Breakout Stocks of the day : Tech Mahindra , DLF.
Reading Glossary is recommended for better understanding of this column.
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This entry was posted on Sunday, January 10th, 2010 at 12:27 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.
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