Market & nifty technical analysis August 2010

Nifty Chart
Click To Enlarge the NIFTY CHART
  • Nifty remains range bound in the five week old trading range of  5350-5470.
  • Market Breadth: 2.60
  • Nifty short term trend down. Nifty is in Intermediate downtrend    .
  • (No. of Stocks in short term up trend) – (No. of stocks in short term down trend)= (136)-(117) =19. ( Condition:VOLUME > 5 Lacs)
  • Nifty Down side Target : 5260 , 5120.
  • Resistance for Nifty : 5460 , 5490 , 5570.
  • Support for Nifty : 5350 , 5320, 4980.
  • Upside bounce in RIL is possible but trend remains down. RIL Target price : 900 & 750.
  • Global markets are in intermediate downtrend.

Nishant Kalaskar

Today Our Trading Calls Subscribers  have taken Long positions in

Cairn India Ltd. @ 346.

Hathway Cable @ 210.

TV18 @ 82

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This entry was posted on Friday, August 13th, 2010 at 6:53 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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