NIFTY technicals

Reading Glossary recommended for better understanding of this column.

Nifty short term chart

  • Nifty hit our first target of 5460. Second target , 5620 which is difficult but possible.
  • Historically  Nifty has faced selling pressure whenever nishant’s oscillator has moved near 40 level. Important support to watch on Nifty is  5400.
  • The red line of the channel  in the long term Nifty chart (shown at the end of this column) or 5530 level may act as supply zone if Nifty continues marching upwards.
  • 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

UP up

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Nifty Support levels are 5400 , 5355 , 5300 , 5280 , 5250 , 5180 , 5150

Nifty Resistance levels are 5460 , 5530 , 5650.

Nishant Kalaskar

Nifty Chart

Nasdaq Composite’s possible target 2350. See chart bellow.

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This entry was posted on Saturday, July 24th, 2010 at 9:12 am 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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