Market watch
Reading Glossary is recommended for better understanding of this column
Observations & Possibilities:
- Nifty has broken 4960 decisively.
- In short term 4850 & 4620 levels are possible on downside for Nifty. 4200 possible in few months on NIfty.
- 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 Stocks which turned bearish today at the end of this column)
Market Technicals:
Market Breadth : 0.10
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 4840 , 4800 , 4680 , 4200 , 3500.
Resistance levels for Nifty are 5050 ,5120 ,5200,5280 , 5340 , 5400
Long term Bearish Stocks : ACC , SAIL , Reliance Power, Reliance Infrastructure, Reliance Industries , Ranbaxy Lab , Power Grid , Idea ,Gujarat NRE , Hindalco , NMDC , NHPC , Triveni Eng. , Mercator Lines , Jindal SAW , IDBI Bank , GTL Infra , Fortis Healthcare , Century Textile.
-Nishant Kalaskar.(9881575125)
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Tags: Century Textile, Fortis Healthcare, GTL Infra, hindalco, IDBI Bank, IDEA, Jindal SAW, market watch, Mercator Lines, NHPC, NMDC, Power Grid, Ranbaxy Lab, Reliance Industries, Reliance Infrastructure, reliance power, SAIL, Triveni Eng.
This entry was posted on Wednesday, May 19th, 2010 at 5:58 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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