Nifty 50

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Observations & Possibilities:

• RIL , Infy are weaker than market , strength in them may turn short term trend of market up.
• TheIntermediate trend is DOWN now with target of 5040 & 4960 on NIfty.
• Breaking 4960 may take Nifty to 4200 in few months.
• 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 : 2.0

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: Nifty, Nifty 50, nifty resistance, Nifty Tips

This entry was posted on Wednesday, April 21st, 2010 at 5:55 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.