Share Market

Nifty Chart 11 May 10Nifty Long term chart. Support 4850 & Resistance 5430.

Observations & Possibilities:

  • Today the short term trend has turned down again. The red line in first chart is acting as resistance.
  • 5200 to 5230 zone is important supply zone on Nifty.
  • Intermediate trend remains DOWN. Intermediate trend of market will turn UP if  Nifty closes above 5290.
  • On downside 4960 is the most important level for Nifty.
  • Moderate 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 5280 for Nifty.

Support levels for Nifty are 5120 , 5050, 4840 , 4680 , 4200 , 3500.

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

-Nishant Kalaskar.  (9881575125)


Tags: ,

This entry was posted on Tuesday, May 11th, 2010 at 5:20 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.

|

Leave a Reply