Monday Nifty opened with optimism & a gap of about 60 points but again sellers were dominant near 4920 level. It resulted in a fall from that level to 4850. Certainly there is change in the sentiment of the short term bulls who enjoied the rally from 4670 to 4930. Nifty established 4890 , 4850 as intra day support. Consumer Durable stocks & Reality stocks were weakest for the day. Global market trend was direction less  during  Indian stock market hours.

Observations:

• Important moving average lines are acting as resistance in the zone of 4920 to 4970.
• Moderate chances of Market  testing 4950 on Nifty , the level above which the intermediate trend will turn up.
• 4500 zone on Nifty is an important target for this intermediate downtrend.

Market Technicals:

Market Breadth : 0.450

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 4840 , 4800 ,4690 , 4650 , 4470, 4050 , 3300 .

Resistance levels for Nifty are 4950 , 4985 ,5060, 5180 , 5130 ,5240 , 5330 , 5570.

Breakout  Stocks of the day : Idea.

Observations:

• All global markets including Indian market are in strong downtrend. (ADX(14) >30). Investors should protect their capital.
• Intra day rallies  might  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 : 1.10

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 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 : LIC Hsg. Fin.

- Nishant Kalaskar.

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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.

-                                                                                                                                 -

Observations:

• Pause in intermediate downtrend seems to be over.
• Intermediate trend of market will turn UP if market closes above 4950 & 16553 for Nifty & Sensex respectively.
• Important support of 5000 level has been  broken decisively on Nifty.
• 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 : 0.20

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  4840 ,  4800 , 4730 , 4 690 , 4650 , 4470,  4050 , 3300 .

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

Breakout  Stocks of the day : Rpower , ACC.

- Nishant Kalaskar.

-                                                                                                                                 -

Observations:

• Market is Overbought  in short term. Some stocks may face selling pressure tomorrow.
• Nifty may test 50EMA which is 5050. Decisive closing above it is indication of  institutional interest.
• Important support of 5000 level has been  broken decisively on Nifty.
• 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 : 6.60

Market Trends : Short  term trend of market is up. 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 , 4470,  4050 , 3300 .

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

Breakout  Stocks of the day : HDFC .

- Nishant Kalaskar.

-                                                                                                                                 -

With decisive Closing bellow 5170  Nifty has  started fresh Intermediate downtrend.

Long term indicators are not supporting the  Nifty’s up move  from September 09 on weekly charts. Good support near 5000 for Nifty on weekly chart. Protecting 75 % of total profit is the best strategy for investors. Avoid large positions in mid cap & small cap stocks.

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Market Breadth : 0.07

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 5080 , 4985 , 4800 , 4 700.

Resistance levels for Nifty are 5180 , 5130 ,5240 , 5330 , 5570 , 5630 ,  5740,5825 , 5950 , 6200

Breakout  Stocks of the day : L&T .

Reading Glossary is recommended for better understanding of this column.

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SUBSCRIBE Swing Trading Calls

Subscribers are holding Nifty 5200 Put  Option & Nifty 5300 Put Option from Wednesday ,  20 Jan 10 morning!

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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SUBSCRIBE Swing Trading Calls

Subscribers are holding Nifty 5200 Put  Option & Nifty 5300 Put Option from Wednesday ,  20 Jan 10 morning!

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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Deccan Chronicle 10% in 3 days.

Canara Bank 5% in 4 days.

 Nifty moving  between  4920-5100 from last three weeks. Breakout from this range will start fresh trend .

  -                                                                                                                         -                                                                                                                                                                                                                                Market Breadth :  6.80

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  5020, 4900 ,  4855 , 4 700,  4670 , 4560 , 4520.

Resistance levels for Nifty are  5060, 5090,  5180 , 5330 , 5550 , 6200.

Breakout  Stocks of the day :  IDEA.

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

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As mentioned on 23 November “Fresh Buy Signal will fail if Nifty closes bellow 5050″ . Nifty closed at  5005 on 26 November resulting in a panic on Friday morning.

  -                                                                                                                         -                                                                                                                                                                                                                                Market Breadth :  0.20

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  4930 , 4900,  4855 , 4 700,  4670 , 4560 , 4520.

Resistance levels for Nifty are   5020, 5060, 5090,  5180 , 5330 , 5550 , 6200.

Breakout  Stocks of the day :  ITC.

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

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