Nifty Technicals

See long term Nifty chart at the end of this column. Reading Glossary recommended for better understanding of this column.

Nifty small chart

  • Lets see in which direction Nifty breaks the dotted trending range shown in chart above  (5350-5460), and starts fresh wave.
  • The two black lines(3 & 4) in the long term Nifty chart are showing divergence between price & nishant’s oscillator. 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.
  • 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: 1.80

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.

Nifty Chart

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This entry was posted on Wednesday, July 21st, 2010 at 5:04 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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