Nifty Technicals


Nifty Chart 15 April 10

-                                                                                                                                    -

Observations & Possibilities:

  • Volatility has returned  with threat to intermediate uptrend.
  • On downside Nifty may test 5230, the level bellow which intermediate trend will turn down.
  • Failure to hold 5230 mark on Nifty  may take it to  5030 & 5040 on downside.
  • Closing above 5400 will bring 5570-5600 in picture.
  • Higher risk in initiating  fresh long term investment.

Market Technicals:

Market Breadth : 0.50

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

Intermediate trend of market will turn DOWN if market closes bellow 5230 & 17340 for Nifty & Sensex respectively.

Support levels for Nifty are  5230 ,5040 , 4960.

Resistance levels for Nifty are 5300 ,5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

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This entry was posted on Thursday, April 15th, 2010 at 3:33 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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