Nifty Today

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Observations & Possibilities:

• Banks & Auto stocks are weaker than market.
• Moderate chances of short term uptrend.
• On downside 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 : 0.60

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)

Tags: Bank stocks, Daily Nifty Analysis

This entry was posted on Tuesday, April 13th, 2010 at 5:17 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.