Reading Glossary is highly recommended for better understanding of this Column.

• Nifty is stuck in the range of 6050-6150.

• Investors are safe as long as Nifty is trading above 5930. Breakout bellow that level might create panic in market. So 5930 is exceptionally important level in next few days.

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

• Today 247 stocks were traded heavily. Out of them 184 stocks are in short term up trend and  63 stocks are in short term down trend.

• Nifty Target :  5920 , 5700.

• Resistance for Nifty : 6115 ,6180 , 6200, 6280, 6310, 6340.

• Support for Nifty :  6030 ,5980, 5860, 5790, 5680.

• Bearish Breakout stocks : HDFC Bank , Power Grid , Piramal Healthcare

• Global markets trend is up.

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CLICK TO ENLARGE THE NIFTY CHART

• Nifty has failed to sustain above 6280. Nifty RSI is not supporting the up trend in Nifty, and suggesting caution for bulls. Important support on Nifty : 6110.
• Investors are safe as long as Nifty is trading above 5930.
• Nifty’s short term trend is up. Nifty’s Intermediate trend is up.
• Today  289 stocks were traded heavily. Out of them 187 stocks are in short term up trend and 102 stocks are in short term down trend.
• Nifty up side Target :  6400, 6580, 7000.
• Resistance for Nifty : 6180 , 6200, 6280, 6310, 6340.
• Support for Nifty : 6115 , 6030 ,5980, 5860, 5790, 5680.
• Bearish Breakout stocks : Hathway Cable , Mastek Ltd , BPCL , NTPC , Power Grid , ICICI Bank.
• Global markets trend is up.

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Nishant Kalaskar.

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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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