Nifty Target
Reading Glossary is recommended for better understanding of this column
Observations & Possibilities:
- Nifty hit our target of 4850 today.
- Sharp Short covering is possible if Nifty sustains above 4980.
- 4620 is second target in short term for Nifty.
- 4200 possible in few months on NIfty.
- Intermediate trend of Nifty will turn UP if it closes above 5105.
- Fresh Long Term bearish stocks : NTPC , 3i Infortech , Essar Oil , RCF , Everonn System.
Market Technicals:
Market Breadth : 0.90
Market Trends : Short term trend of market is down. Intermediate trend is DOWN.
Intermediate trend of market will turn UP if market closes above 5105 for Nifty.
Support levels for Nifty are 4840 , 4800 , 4680 , 4200 , 3500.
Resistance levels for Nifty are 4960 , 5050 ,5120 ,5200,5280 , 5340 , 5400
-Nishant Kalaskar.(9881575125)
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Tags: 3i Infortech, breakout stocks, Daily support & resistance of Nifty 50, Essar Oil, Long term Bearish Stocks, Nifty target, NTPC, RCF.
This entry was posted on Friday, May 21st, 2010 at 7:31 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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