Nifty Today

On 24 Feb We wrote 5400 is possible on Nifty & Today Nifty is standing there! NO Magic…Only Technicals!!!

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Observations & Possibilities:

• Nifty near its target of 5400. A pause in uptrend.
• 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 : 1.40

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)

Tags: Breakout Stock, DAILY CALLS, Daily Nifty Analysis, medium term trend, medium term trend of stocks, nifty resistance, nifty support, Nifty target, Nifty Tips, Techncial Analysis, technical analysis of nifty, trading strategies, Trading tips

This entry was posted on Tuesday, April 6th, 2010 at 3:56 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.