• 12:38 IST Tuesday : Watch 6030 on Nifty , weakness will continue bellow it.

• Nifty has given vulnerable closing last week. Now onwards profit on Investments might start evaporating .  Bank Nifty , CNX Midcap Index , CNX IT Index , CNX 500 have confirmed intermediate downtrend on Friday. Protect profit even on mutual fund investments.

• Nifty’s short term trend is down. Nifty’s Intermediate trend is down.

• Nifty RSI is indicating sharper fall ahead.

• Nifty Target :  5700 , 5300.

• Resistance for Nifty : 6150 ,6190, 6230, 6310, 6350.

• Support for Nifty : , 6030 ,5980 , 5940.

• Bearish Breakout Stocks : TV18 , TTML , Rico Auto , Reliance Capital , Polaris , NTPC , NHPC , Nagurjuna Const. , MTNL , IOC , Hotel Leela , Hinustan Copper , Ranbaxy , Suzlon , IBulls Sec. ,

• Global markets trend is DOWN.

Nishant Kalaskar.

Observations & Possibilities:

• Nifty has broken 4960 decisively.
• In short term 4850 & 4620 levels are possible on downside for Nifty. 4200 possible in few months  on NIfty.
• Intermediate trend of Nifty will turn UP if  it  closes above 5210.
• The  red trend line in the chart is important supply zone.
• Moderate risk in initiating  fresh long term investment. ( See Stocks which turned  bearish  today  at the end of this column)

Market Technicals:

Market Breadth : 0.10

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

Intermediate trend of market will turn UP if market closes above 5210 for Nifty.

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

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

Long term Bearish Stocks : ACC , SAIL , Reliance Power, Reliance Infrastructure, Reliance Industries ,  Ranbaxy Lab , Power Grid , Idea ,Gujarat NRE , Hindalco , NMDC , NHPC , Triveni Eng. , Mercator Lines ,  Jindal SAW , IDBI Bank , GTL Infra , Fortis Healthcare , Century Textile.

-Nishant Kalaskar.(9881575125)

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Observations & Possibilities:

• High volatility seen in market. 4980 acting as important support on Nifty.
• 4850 & 4620 levels are possible on downside for Nifty .
• Intermediate trend of Nifty will turn UP if  it  closes above 5210.
• The  red trend line in the chart is important supply zone.
• Moderate risk in initiating  fresh long term investment.(See the bearish stocks at the end of  this column.)

Market Technicals:

Market Breadth : 2.00

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

Intermediate trend of market will turn UP if market closes above 5210 for Nifty.

Support levels for Nifty are  5050, 4840 , 4680 , 4200 , 3500.

Resistance levels for Nifty are 5120 ,5200,5280 ,  5340 , 5400, 5570 , 5740.

Bearish Stocks : NHPC , Rolta India Ltd. , Prakash Industries Ltd. , Moser Baer (I) Ltd , Kingfisher Airline ltd. , Jaiprakash Associates Ltd. , BHEL , Aptech ltd.

-Nishant Kalaskar.(9881575125)

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