Nifty outlook for Next week

Nifty Chart
Click To Enlarge Nifty Chart.
  • Nifty is on the verge of starting fresh intermediate downtrend. Important trend line support is broken by Nifty today. See blue trend line in Nifty chart above.
  • Some stocks may recover on Monday if Nifty holds 5390.
  • 5300 possible on Nifty in next few days.
  • Market Breadth: 0.15
  • Nifty short term trend is down. Nifty Intermediate trend is  up.
  • ***(No. of Stocks in short term up trend) – (No. of stocks in short term down trend)= (65)-(194) =-129. ( Condition:VOLUME > 5 Lacs)
  • Nifty up side Target : 5580 , 5690.
  • Resistance for Nifty :5450 ,  5490, 5520 ,  5570 , 5600
  • Support for Nifty :  5400, 5350, 5320, 5000.
  • RIL Target price : 900 & 750.
  • Global markets are in intermediate downtrend.

Nishant Kalaskar

*** Reading Glossary strongly recommended for better understanding of this column.

Subscribers positions

Nifty 5300 Put Option @ 56.

Nifty 5400 Put Option @ 95.

Engineers India Ltd. @ 332

Dabur @ 206.

Lupin @ 1870.

D S Kulkarni ltd. @ 82.

The way up and the way down are the one and the same: Plato


Tags: , ,

This entry was posted on Friday, August 27th, 2010 at 5:40 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.

|

Leave a Reply