Nifty Today

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Nifty Chart 8 July 10

Nifty outlook

  • 5295 & 5245 are important levels to watch on Nifty tomorrow ( Friday).
  • In last 3 weeks Nifty has tested & failed to sustain above 5300 level more than eight times.
  • In last 3 weeks Nifty tried to break 5230 level four times but bounced back.
  • Nifty remains in  downtrend with 5120 & 4950 levels as possible targets.
  • The 5150 to 5230 zone on Nifty is full of support levels with respect to traders comfort levels.
  • Global markets are indicating long term bearishness in future. 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 :  3.00

Nifty Trends : Short term trend is up. 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 5280,  5230, 5180, 5150 , 5120 , 4950.

Nifty Resistance levels are  , 5330 , 5400.

Nishant Kalaskar (9881575125)

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This entry was posted on Thursday, July 8th, 2010 at 4:58 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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