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Nifty Technical Analysis

Nishant Kalaskar — Mon, 15 Feb 2010 10:33:23 +0000

Monday. Nifty failed to sustain above 4840. As written on Thursday many stocks faced selling pressure throughout the day. Nifty established 4790 as intra day support. Intra day resistance for Nifty was near 4840. IT stocks were strongest for the day. Global market trend was direction less & weak during Indian stock market hours.

Observations:

The weak recovery in Nifty from 8th Feb 2010 is making risk reward ratio less attractive for bulls.
Market in a make or break situation.
(4830-4840 ) & (4880- 4920) zones on Nifty are very important resistance & may face heavy selling..
4500 zone on Nifty is an important target for this downtrend.
The fall in Nifty from 19 Jan 2010 is the sharpest in last four months.

Market Technicals:

Market Breadth : 0.35

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

Intermediate trend of market will turn UP if market closes above 4950 & 16553 for Nifty & Sensex respectively.

Support levels for Nifty are 4730 ,4690 , 4650 , 4470, 4050 , 3300 .

Resistance levels for Nifty are 4800 , 4840 ,4945 , 4985 , 5180 , 5130 ,5240 , 5330 , 5570.

Breakout Stocks of the day : Bharti Airtel , BOI.

- Nishant Kalaskar.

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Nifty Technical Analysis

Nishant Kalaskar — Thu, 28 Jan 2010 10:20:03 +0000

Thursday Nifty opened with gap on upside and for next two hours the was positive sentiment in the market. But still Bears are having control over market and because of that market had sharp fall of 100 points in Nifty after testing 4930. Nifty intra day support was near 4960. Intra day resistance for Nifty was near 4930. Metal, Banks, Pharma stocks were the strongest for the day. Global market trend was up during Indian stock market hours.

Observations:

Moderate chances of short term uptrend.
Important support of 5000 level has been broken decisively on Nifty.
High Volatility seen in market.
The fall in Nifty from 19 Jan 2010 is the sharpest in last four months.
On 22 Jan 2010, Friday market has given Poor weekly closing with long term impact.

Market Technicals:

Market Breadth : 1.50

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

Intermediate trend of market will turn UP if market closes above 5290 & 17712 for Nifty & Sensex respectively.

Support levels for Nifty are 4840 , 4800 , 4730 , 4 690 , 4650 , 4050 , 3300 .

Resistance levels for Nifty are 4935 , 4985 , 5180 , 5130 ,5240 , 5330 , 5570.

Breakout Stocks of the day : Bharti Airtel , Axis Bank .

- Nishant Kalaskar.

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Nifty Today

Nishant Kalaskar — Fri, 04 Dec 2009 10:24:03 +0000

Friday Nifty moved in a two day range of 5100 to 5180 . Market just not sustaing above 5140. Auto stocks were the weakest while pharmacy stocks were stronger than market. Global market trend was down during Indian market hours.

A cluster of three days trading range is formed on Nifty chart. Expect a decisive breakout soon. Two thoughts in the market :

Analysts anticipating Double Top pattern are recommending Exit.
Trend Followers holding long positions due to intact uptrend.

- - Market Breadth : 0.98

Market Trends : Short term trend of market is down. Medium term trend is Up. Medium term trend of market will turn Down if market closes bellow 4930 & 16630 for Nifty & Sensex respectively.

Support levels for Nifty are 5070 , 5020, 4900 , 4855 , 4 700.

Resistance levels for Nifty are 5180 , 5330 , 5550 , 5700, 6200

Breakout Stocks of the day : Biocon.

Reading Glossary is recommended for better understanding of this column. -