Nifty Technical Analysis
Thursday Nifty has started a short term uptrend. Intra day support for Nifty was near 52400 & resistance near 5270. Oil & Gas stocks were the strongest for the day while FMCG stocks were weaker than market. Global market trend was up during Indian market hours.
Compressed bar formed on Nifty chart. Market to take decisive move in coming days.
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Market Breadth : 1.05
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 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 : ABB.
Reading Glossary is recommended for better understanding of this column.
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Tags: Breakout Stock, Daily Nifty Analysis, Global market, market breadth, medium term trend, Nifty 50, Nifty target, Nifty Tips, sensex, share market, sotck market, stock market, Techncial Analysis, technical analysis of nifty, trading strategies
This entry was posted on Thursday, January 14th, 2010 at 3:47 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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