NIFTY technicals

  • 3 August 11.40 am: Nifty is trading near the resistance/upper end of the trading range(5360). See if it breaks up out or not.
  • 9.30 pm : European Dax is trading at the important resistance of  6300. There is limited upside to European markets due to chances of profit booking/ profit protection.
  • Market Breadth : 5.80 Some stocks might face selling pressure today.
  • Market is in short term uptrend. Intermediate trend of market remains up.
  • Nifty is trading in the range of 5350-5460. See the two blue trend lines in the chart at the end of this column.
  • Nifty’s upside target is 5650 in next few weeks.
  • Watch RIL at 980-1000. It can create panic bellow 970 , as it is in intermediate downtrend                                                                       NIshant Kalaskar (9881575125)
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    • Nifty Chart

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    This entry was posted on Monday, August 2nd, 2010 at 3:53 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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