Trends Today » nifty option 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 Market outlook http://www.trendstoday.in/2010/01/20/nifty-technical-analysis-13/ http://www.trendstoday.in/2010/01/20/nifty-technical-analysis-13/#comments Wed, 20 Jan 2010 10:17:14 +0000 Nishant Kalaskar http://www.trendstoday.in/?p=792 Nifty might start Intermediate downtrend. Closing bellow 5170 needed.

Wednesday Nifty opened with optimism but was unable to continue on upside. Intra day support for Nifty was  near 5220 & resistance near 5250.  Auto & Metal stocks were the strongest for the day while Public sector  stocks were weaker than market. Global market trend was down during  Indian market hours.

Long term indicators not supporting the  Nifty’s up move  from September 09 on weekly charts. Good support near 5000 for Nifty on weekly chart.

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Market Breadth : 0.70

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

Intermediate trend of market will turn DOWN if market closes bellow 5170 & 17323 for Nifty & Sensex respectively.

Support levels for Nifty 5180 , 5130 , 5080 , 4985 , 4800 , 4 700.

Resistance levels for Nifty are 5240 , 5330 , 5570 , 5630 ,  5740,5825 , 5950 , 6200

Breakout  Stocks of the day : BPCL .Bajaj Auto.

Reading Glossary is recommended for better understanding of this column.

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