Nifty outlook for next week

See Nifty chart at the end of this column.

  • Its time to stay highly alert , as the nifty’s trend reversal point has moved up to 5360 , also the weakening of uptrend is observed in last 3 days.
  • You can see Indicators are showing divergence with price in the chart . This indicates sharper down move in future.
  • Expecting  more than 2 to 5 % move in next few days. This brings 5600 & 5230 levels on Nifty  in picture.
  • Sentiment will remain bullish as long as nifty is holding 5360. 5460 & 5620 levels are possible targets for Nifty on Upside.
  • Moderate to hight risk in fresh long term (1 to 3 years) investment.

Market Technicals

Market Breadth: 1.60

Nifty Trends : Short term trend is up. Intermediate trend is  UP.

Nifty Trend Reversal Point : 5360

Nifty Support levels are 5355 , 5300 , 5280 , 5250 , 5180 , 5150

Nifty Resistance levels are 5400 , 5460 , 5530 , 5650.

Nishant Kalaskar.


Nifty Chart 2


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This entry was posted on Friday, July 16th, 2010 at 6:58 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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