Nifty Today

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Nifty Chart 9 April 10

Observations & Possibilities:

  • Spurt in volatility.
  • The effect of  Thursday’s down move will get erased if Nifty closes above 5400. Its bearish effect is still there.
  • Nifty may test 5230, the level bellow which intermediate trend will turn down. Failure to hold 5230 makes 5080 & 5000 possible on downside.
  • Closing above 5400 will bring 5570-5600 in picture.
  • Higher risk in initiating  fresh long term investment.

Market Technicals:

Market Breadth : 1.86

Market Trends : Short  term trend of market is down. 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 , 5230 .

Resistance levels for Nifty are  5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

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This entry was posted on Friday, April 9th, 2010 at 3:37 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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