Market watch

Nifty 31 May 10

Observations & Possibilities:

  • Expecting  2 to 5 % move in next few days. 4960/5180 possible.
  • 5040 is  important support.
  • 5180 & 5400 levels or previous tops  are possible but difficult targets for Nifty.
  • This is a testing time for bulls as the area between 5070 to 5130 is a dangerous supply zone.
  • On 25 May  Nifty has given warning of long term bearishness. So currant sharp rally is a better exit opportunity for investors , higher the better.
  • The intermediate downtrend will start bellow 4810 for Nifty.

Market Technicals

Market Breadth : 2.40

Market Trends : Short  term trend of market is up. Intermediate trend is UP.

Intermediate trend of market will turn DOWN if market closes bellow 4810 for Nifty.

Support levels for Nifty are 5050 ,4960 , 4840, 4680 , 4620 , 4200 , 3500.

Resistance levels for Nifty are 5120 ,5200,5280 ,  5340 , 5400


-Nishant Kalaskar.(9881575125)

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This entry was posted on Monday, May 31st, 2010 at 3:35 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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