Nifty Technicals
Reading Glossary recommended for better understanding of this column.
- Nifty on verge of achiving our first target of 5460. Second target: 5620.
- Historically Nifty has faced selling pressure whenever nishant’s oscillator has moved near 50 level. This level comes near 5470 for Nifty on Friday.
- The red line in the long term Nifty chart (shown at the end of this column) or 5530 level may act as supply zone.
- For bulls profit protection will be the first priority if Nifty starts trading above 5500. Protecting 70% of total profit is one of the best strategy in traders world.
- Moderate to hight risk in fresh long term (1 to 3 years) investment.
Market Technicals
Market Breadth: 4.50
Nifty Trends : Short term trend is up. Intermediate trend is UP.
Nifty Trend Reversal Point : 5360
Nifty Support levels are 5400 , 5355 , 5300 , 5280 , 5250 , 5180 , 5150
Nifty Resistance levels are 5460 , 5530 , 5650.
Nishant Kalaskar
Tags: Nifty target, nifty technicals
This entry was posted on Thursday, July 22nd, 2010 at 5:54 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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