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Nifty Technical Analysis

Nishant Kalaskar — Fri, 05 Feb 2010 13:17:34 +0000

Friday ,Nifty joined the global bloodbath. It cracked the level of 4830 decisively today. Nifty established 4700 as intra day support. Intra day resistance for Nifty was near 4740. Though there is weakness in all sectors metal stocks were weakest for the day. Global market trend was down during Indian stock market hours.

Observations:

All global markets including Indian market are in strong downtrend. (ADX(14) >30). Investors should protect their capital.
Minor chances of short term uptrend , which will be used for loss booking by trapped bulls.
4500 zone on Nifty is an important target for this downtrend.
Intermediate trend of market will turn UP if market closes above 4950 & 16553 for Nifty & Sensex respectively.
The fall in Nifty from 19 Jan 2010 is the sharpest in last four months.
4650 important support for Nifty. Its 200 day average price of Nifty.

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 4950 & 16553 for Nifty & Sensex respectively.

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

Resistance levels for Nifty are 4730 , 4800 , 4840 ,4945 , 4985 , 5180 , 5130 ,5240 , 5330 , 5570.

Breakout Stocks of the day : RIL.

- Nishant Kalaskar.

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Market outlook

Nishant Kalaskar — Wed, 20 Jan 2010 10:17:14 +0000

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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Nifty Technical Analysis

Nishant Kalaskar — Tue, 19 Jan 2010 11:09:28 +0000

Tuesday Nifty was again unable to break the 5300 zone on upside but has broken the 5240 mark on downside. Intra day support for Nifty was near 5220 & resistance near 5280. Bank stocks were the strongest for the day while IT stocks were weaker than market. Global market trend was down during Indian market hours.

Short term trend of Nifty is down now.

Long term indicators not supporting the Nifty’s up move on weekly charts.

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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.

Reading Glossary is recommended for better understanding of this column.

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Nifty Technical Analysis

Nishant Kalaskar — Fri, 08 Jan 2010 10:31:43 +0000

Tuesday Nifty was weak for the whole day . Intra day support for Nifty was near 5240 & resistance near 5270. IT stocks were the weakest for the day & Capital goods stocks were the strongest. Global market trend was up during Indian market hours.

Pause in the uptrend. Bank Nifty has remained weaker than Nifty in this uptrend.

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Market Breadth : 0.60

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

Intermediate trend of market will turn DOWN if market closes bellow 5160 & 17323 for Nifty & Sensex respectively.

Support levels for Nifty 5240 , 5180 , 4985 , 4800 , 4 700.

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

Breakout Stocks of the day : Tech Mahindra , DLF.

Reading Glossary is recommended for better understanding of this column.

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Nifty Technical Analysis

Nishant Kalaskar — Wed, 30 Dec 2009 10:19:16 +0000

Wednesday Nifty found its support near 5165. Intra day resistance for Nifty was near 5190. Consumer Durable stocks were the strongest for the day while FMCG stocks were the weakest. Global market trend was down during Indian market hours.

High chances of short term downtrend. Nifty Volatility at 2009 low.

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Market Breadth : 0.60

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

Intermediate trend of market will turn DOWN if market closes bellow 4943 & 16577 for Nifty & Sensex respectively.

Support levels for Nifty 4985 , 4800 , 4 700.

Resistance levels for Nifty are 5180, 5330 , 5570 , 5630 , 5740,5825 , 5950 , 6200

Breakout Stocks of the day : Cox & Kings , Jyoti Structure , Jindal Steel P.

Reading Glossary is recommended for better understanding of this column.

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Nifty Today

Nishant Kalaskar — Thu, 24 Dec 2009 10:20:47 +0000

Thursday Nifty was trading in the zone of resistance 5140-5190. It failed to close above 5180 & start Intermediate uptrend. Intra day support for Nifty was near 5130. Auto stocks were the strongest for the day. Global market trend was up during Indian market hours.

If Nifty closes above 5180 then the probable targets will be 5330 , 5570 , 5950.

Above 5200 on Nifty the price moves will be very fast.

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Market Breadth : 1.2

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

Intermediate trend of market will turn up if market closes bellow 5183 & 17350 for Nifty & Sensex respectively.

Support levels for Nifty are5020, 4985 , 4800 , 4 700.

Resistance levels for Nifty are 5180 , 5330 , 5570 , 5630 , 5740,5825 , 5950 , 6200

Breakout Stocks of the day : TataMotors.

Reading Glossary is recommended for better understanding of this column.

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Nifty Today

Nishant Kalaskar — Mon, 14 Dec 2009 10:16:44 +0000

Friday Nifty intraday resistance near 5160. Support near 4990. Bank stocks were the weakest while Auto stocks were stronger than market. Global market trend was up during Indian market hours.

Short term trend is down now.

- - Market Breadth : 0.50

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 5050 & 16940 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 : ACC , ThinkSoft Global.

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

Nifty Today

Nishant Kalaskar — Wed, 02 Dec 2009 10:56:01 +0000

Wednesday Nifty remained in a tight range of 5120-5150. FMCG stocks were the weakest while auto stoks were stronger than market. Global market trend was up but weak during Indian market hours.

A Compressed day formation.

- - Market Breadth : 2

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 : Dena Bank.

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

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Nifty Today

Nishant Kalaskar — Tue, 01 Dec 2009 09:54:29 +0000

Tuesday Nifty was positive througout the day. Intraday support near 5080. FMCG stocks were the weakest despite of strong market. Global market trend was up during Indian market hours.

Today’s closing higest in last one month. Most probably market will continue making new highs in coming days.

- - Market Breadth : 11

Market Trends : Short term trend of market is up. 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 : United Phosphorus.

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

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Nifty Today

Nishant Kalaskar — Wed, 25 Nov 2009 10:10:25 +0000

Wednesday Nifty intraday support 5100. Resistance near 5140. FMCG stocks were stronger than market today . Global market trend was up during Indian market hours.

Experts might use “RIL Bonus” as an opportunity unload RIL.

- - Market Breadth : 0.75

Market Trends : Short term trend of market is Up. 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 5090 , 5060 , 5020, 4940 , 4900, 4855 , 4 700, 4670 , 4560 , 4520.

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

Breakout Stocks of the day : Satyam.

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

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