Trends Today » Daily support & resistance of Nifty 50 http://www.trendstoday.in JOIN Technical Analysis Course in Pune. Register NOW for FREE Nifty Technicals Email Thu, 09 Feb 2012 12:58:59 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 Nifty Target http://www.trendstoday.in/2010/05/21/nifty-target/ http://www.trendstoday.in/2010/05/21/nifty-target/#comments Fri, 21 May 2010 14:01:54 +0000 Nishant Kalaskar http://www.trendstoday.in/?p=1476 Reading Glossary is recommended for better understanding of this column

Nifty Chart 21 May 10

Observations & Possibilities:

  • Nifty hit our target of 4850 today.
  • Sharp Short covering is possible if Nifty sustains above 4980.
  • 4620 is second target in short term for Nifty.
  • 4200 possible in few months  on NIfty.
  • Intermediate trend of Nifty will turn UP if  it  closes above 5105.
  • Fresh Long Term bearish stocks : NTPC , 3i Infortech , Essar Oil , RCF , Everonn System.

Market Technicals:

Market Breadth : 0.90

Market Trends : Short  term trend of market is down. Intermediate trend is DOWN.

Intermediate trend of market will turn UP if market closes above 5105 for Nifty.

Support levels for Nifty are 4840 ,  4800 , 4680 , 4200 , 3500.

Resistance levels for Nifty are 4960 , 5050 ,5120 ,5200,5280 ,  5340 , 5400


-Nishant Kalaskar.(9881575125)
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