Nifty Techncial Analysis
Wednesday Nifty has taken support near intermediate bottom of 5160. Intra day support for Nifty was near 5170 & resistance near 5240. IT stocks were the strongest for the day while Auto stocks were weaker than market. Global market trend was down during Indian market hours.
High chances of short term trend turning up.
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Market Breadth : 1.80
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 5180 , 5130 , 5080 , 4985 , 4800 , 4 700.
Resistance levels for Nifty are 5240 , 5330 , 5570 , 5630 , 5740,5825 , 5950 , 6200
Breakout Stocks of the day : ZEE ltd.
Reading Glossary is recommended for better understanding of this column.
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This entry was posted on Wednesday, January 13th, 2010 at 3:42 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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