Trends Today

Nifty Today

Thursday Nifty  was again trading sideways near the 5120 level , and in last hour of market it tried to break the 5140 mark.  Nifty established  5110 as intra day support. IT stocks were strongest for the day. Global market trend was mix during  Indian stock market hours.

Observations:

• Expecting 2 to 8% move in coming days.
• 5200 is important resistance zone for Nifty.
• 5400 is looking impossible at present , but any upside  is possible in intermediate uptrend , so be ready.

Market Technicals:

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 5092 & 17030 for Nifty & Sensex respectively.

Support levels for Nifty are  5050 , 4950 ,  4840 , 4800 ,4690 , 4650 , 4470, 4050 , 3300 .

Resistance levels for Nifty are 5120 , 5160 , 5195  , 5220 , 5240 , 5330 ,5400,  5570.

Best Buy For Friday : GAIL with SL bellow 409.

This entry was posted on Thursday, March 11th, 2010 at 4:36 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.