Nifty Today

On 24 Feb We wrote 5400 as possible target for Nifty & Today Nifty achieved it ! NO Magic…Only Technicals!!!

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Observations & Possibilities:

• Nifty’s target of 5400 achieved today.
• Expecting 3 to 8 % move from currant market level in coming days.
• Closing above 5400 will bring 5570-5600 in picture.
• Breakout move of  5 April will be considered as failure if  NIfty closes bellow 5290.
• Higher risk in initiating  fresh long term investment.
• Protect Gains.

Market Technicals:

Market Breadth : 1.20

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 .

Resistance levels for Nifty are  5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

Tags: DAILY CALLS, Daily Nifty Analysis, medium term trend, nifty outlook tomorrow, nifty resistance, nifty support, Nifty Tips, technical analysis of nifty, trading strategies, Trading tips

This entry was posted on Wednesday, April 7th, 2010 at 3:46 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.