Nifty Today

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Observations & Possibilities:

  • Short term trend is up now. Nifty near its target of 5400.
  • With Today’s breakout 5570-5600 levels are looking possible now.
  • On downside NIfty may test 5230. Failure to hold 5230 may take Nifty to 5070 & 5000.
  • Sharp moves possible on the downside.
  • Higher risk in initiating  fresh long term investment.
  • Protect Gains.

Market Technicals:

Market Breadth : 5.70

Market Trends : Short  term trend of market is up. Intermediate trend is UP.

Intermediate trend of market will turn DOWN if market closes bellow 5200 & 17340 for Nifty & Sensex respectively.

Support levels for Nifty are 5300 , 5330 ,5240 , 5160, 5070 ,  5000 ,  4950 ,  4840 , 4800 ,4690 , 4650 , 4470, 4050 , 3300 .

Resistance levels for Nifty are  5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

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This entry was posted on Monday, April 5th, 2010 at 3:59 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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