NSE Nifty Analysis

Reading Glossary is recommended for better understanding of this column

Observations & Possibilities:

• Market has resumed its Intermediate downtrend.
• 4850 & 4620 levels are possible on downside for Nifty .
• Market has given poor weekly closing.
• Intermediate trend of Nifty will turn UP if  it  closes above 5210.
• The  red trend line in the chart is important supply zone.
• Moderate risk in initiating  fresh long term investment.(See the bearish stocks at the bottom.)

Market Technicals:

Market Breadth : 0.70

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

Intermediate trend of market will turn UP if market closes above 5210 for Nifty.

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

Resistance levels for Nifty are 5120 ,5200,5280 ,  5340 , 5400, 5570 , 5740.

Bearish Stocks : Areva T&D , Educomp Solution , HOEC ,Ispat , Jayashri Tea , Century Enka , Provouge ,Reliance Capital ,  Sterlite Industries ,  Suzlon , WWIL ,

-Nishant Kalaskar.(9881575125)

-                                                                                          -

Tags: Areva T&D, Century Enka, Educomp Solution, HOEC, investment advice, investment tips, Ispat, Jayashri Tea, Nifty, Nifty 50, nifty futures, nifty index, nifty meaning, nifty today, nifty top gainers, NSE, nse nifty, Provouge, reliance capital, sensex nifty today, Sterlite Industries, stocks highs and lows, stocks hitting new lows, stocks making new lows, stocks new highs new lows, Suzlon, the new laws of the stock market jungle, WWIL

This entry was posted on Friday, May 14th, 2010 at 5:44 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.