nifty technicals

Nifty short term chart
  • 5445 is important resistance & 5400 important support to watch on Wednesday.
  • Breakout from the trading range will bring fresh long/short positions in the market. Lets see in which direction Nifty breaks.
  • Market Breadth : 1.50
  • Market is in short term uptrend. Intermediate trend of market remains up.
  • Nifty is trading in the range of 5350-5450. See the blue trendlines in the long term chart above.
  • Nifty’s upside target is 5650 in next few weeks
  • As written yesterday European markets have limited upside now. Chances of profit booking there.

Nishant Kalaskar

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This entry was posted on Tuesday, August 3rd, 2010 at 6:17 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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