Nifty Today
Thursday Nifty was trading in the intra day range of 4840 to 4865. One more dull trading session. Nifty established 4840 as intra day support. Pharma stocks were weakest for the day. Global market trend was down during Indian stock market hours.
Observations:
- Two compressed days are formed on Nifty Chart. Expecting 2 to 8 % move in coming days.
- In case if Nifty closes above 4950 then that intermediate uptrend will have target of 5120 , 5400 levels.
- Important moving average lines are acting as resistance in the zone of 4920 to 4970.
- 4500 , 4260 zone on Nifty are important target levels for this intermediate downtrend.
Market Technicals:
Market Breadth : -
Market Trends : Short term trend of market is down. Intermediate trend is DOWN.
Intermediate trend of market will turn UP if market closes above 4950 & 16553 for Nifty & Sensex respectively.
Support levels for Nifty are 4840 , 4800 ,4690 , 4650 , 4470, 4050 , 3300 .
Resistance levels for Nifty are 4950 , 4985 ,5060, 5180 , 5130 ,5240 , 5330 , 5570.
Breakout Stocks of the day : L&T
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Tags: breakout stocks, nifty future, nifty outlook, nifty support, nifty today
This entry was posted on Thursday, February 25th, 2010 at 6:03 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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