Nifty Today

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Observations & Possibilities:

• Nifty has broken the important level of 5230. The Intermediate trend is DOWN now.
• Breaking 4960 may take Nifty to 4200 in few months.
• On Friday Nifty has given a  poor weekly closing with evidence of  profit booking by investors.
• Volatility has returned  with  intermediate downtrend.
• 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 DOWN.

Intermediate trend of market will turn UP if market closes above 5375 for Nifty.

Support levels for Nifty are  5040 , 4960 4200 , 3500.

Resistance levels for Nifty are 5230 ,5300 ,5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

Tags: DAILY CALLS, Daily Nifty Analysis, free nifty tips, nifty resistance, nifty support, Nifty Tips, nifty trendline, stock market, technical analysis of nifty

This entry was posted on Monday, April 19th, 2010 at 5:57 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.