nifty technicals & NIfty Bhavishya

Nifty Chart
Click to enlarge the free nifty eod chart.
  • Watch 5430 ,very important support on Nifty on Monday. Breaking it may trigger fresh short positions in market.
  • Nifty remains in the tight trading range of 5350-5450. See in the nifty chart above.
  • Watch RIL at 980-1000. Failure to hold that may create panic in Market.
  • Market Breadth : 0.60
  • Market is in short term uptrend. Intermediate trend of market remains up.
  • (No. of Scrips in short term up trend) – (No. of Scrips in short term down trend) = 158 – 97 = 61. So the money is with bulls. (Volume  >500000 )
  • Nifty’s upside target is 5630. Nifty Resistance 5560.
  • European markets might come  under selling pressure now.
  • American Nasdaq Composite’s  target : 2350 , Important support 2270.

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This entry was posted on Friday, August 6th, 2010 at 6:04 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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