Free Nifty Technicals

From 14 April 2010 we are saying the level of 5050 is possible on Nifty in  & now Nifty is trading there

Nifty Chart 7 May 104850 on Nifty, the green trendline in the chart may act as support on long term chart.

Observations & Possibilities:

  • Global markets have given poor weekly closing with long term impact.
  • Closing above the  pink line in the chart may attract buyers & short covering.
  • The Intermediate trend remains DOWN with target of  4960 on NIfty.
  • Breaking 4960 may take Nifty to  4680 & 4200 in few months.
  • Intermediate trend of market will turn UP if  Nifty closes above 5280.
  • Moderate risk in initiating  fresh long term investment.

Market Technicals:

Market Breadth : 0.30

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

Intermediate trend of market will turn UP if market closes above 5280 for Nifty.

Support levels for Nifty are 4960 ,4840 , 4680 , 4200 , 3500.

Resistance levels for Nifty are 5050, 5200, 5340 , 5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)


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This entry was posted on Friday, May 7th, 2010 at 6:44 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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