Nifty Trendline

Nifty Chart 7 July 10

Nifty outlook

  • Nifty again near the important 5230 level. See the green trendline in chart.
  • The 5150 to 5230 zone on Nifty is full of support levels from different schools of thought.
  • Nifty remains in  downtrend with 5120 & 4950 levels as possible targets.
  • American Nasdaq , S&P 500 have broken important support levels, this is a sign of long term bearishness across the globe. In 2010 Nifty held 4800 level thrice but in future there are moderate chances of Nifty not holding that famous support zone.
  • Moderate to high risk in fresh long term ( 1 to 3 years) investment.

Market Technicals

Market Breadth : 0.40

Nifty Trends : Short term trend is down. Intermediate trend is DOWN.

Nifty Trend Reversal Point : 5340

Support levels for Nifty are    5200 , 5125 ,5050, 5025 , 4960 , 4840, 4680 , 4620 , 4200 , 3500.
Resistance levels for Nifty are 5280 ,5340 , 5400 , 5700.

Nifty Support levels are 5230, 5180, 5150 , 5120 , 4950.

Nifty Resistance levels are 5280 , 5330 , 5400.

Nishant Kalaskar (9881575125)

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This entry was posted on Wednesday, July 7th, 2010 at 5:24 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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