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Nifty Technical Analysis

Nishant Kalaskar — Wed, 03 Feb 2010 10:58:11 +0000

Wednesday Nifty opened with gap on upside and went to test the important level of 4950 and failed to cross that. Short term trend of Nifty is up now. Nifty intra day support was near 4920. Intra day resistance for Nifty was near 4950. FMCG stocks were strongest for the day. Global market trend was UP during Indian stock market hours.

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.

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Nifty Technical Analysis

Nishant Kalaskar — Mon, 25 Jan 2010 16:02:53 +0000

Monday Nifty managed to stay above the Friday low and now there are moderate chances of short term uptrend. Intra day support for Nifty was near 4980 & resistance near 5020. Auto stocks were the weakest for the day while FMCG stocks were strongest for the day. Global market trend was down during Indian market hours.

Observations:

The fall in Nifty from 19 Jan 2010 is the sharpest in last four months.
Trend line support of 5000 broken for Nifty on weekly chart.
Last Friday market has given Poor weekly closing with long term impact.

Market Technicals:

Market Breadth : 0.57

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 4985 ,4935 , 4840 , 4800 ,4730 , 4 690 , 4665 , 4050 , 3300 .

Resistance levels for Nifty are 5080 ,5180 , 5130 ,5240 , 5330 , 5570.

Breakout Stocks of the day : Bharti Airtel .

Reading Glossary is recommended for better understanding of this column.

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Nifty Technical Analysis

Nishant Kalaskar — Fri, 15 Jan 2010 12:34:17 +0000

Friday Nifty has given another directionless day. Intra day support for Nifty was near 5250 & resistance near 5270. Public Sector stocks were the strongest for the day while Oil & Gas stocks were weaker than market. Global market trend was down during Indian market hours.

Overall Lackluster Week.

In peace prepare for war , in war prepare for peace. – Lao Tsu

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Market Breadth : -

Market Trends : Short term trend of market is up. 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 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 : RCom.

Reading Glossary is recommended for better understanding of this column.

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Nifty Technical Analysis

Nishant Kalaskar — Thu, 14 Jan 2010 10:17:30 +0000

Thursday Nifty has started a short term uptrend. Intra day support for Nifty was near 52400 & resistance near 5270. Oil & Gas stocks were the strongest for the day while FMCG stocks were weaker than market. Global market trend was up during Indian market hours.

Compressed bar formed on Nifty chart. Market to take decisive move in coming days.

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Market Breadth : 1.05

Market Trends : Short term trend of market is up. 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 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 : ABB.

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 Daily

Nishant Kalaskar — Tue, 29 Dec 2009 10:11:53 +0000

Tuesday Nifty was trading above the 5180 level for the whole day. It has closed above 5180 & started Intermediate uptrend. Intra day support for Nifty was near 5180. Consumer Durable stocks were the strongest for the day. Global market trend was up & weak during Indian market hours.

A Compressed bar formation on Nifty chart today.

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Market Breadth : 1

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 5180 , 4985 , 4800 , 4 700.

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

Breakout Stocks of the day : Patni Comp , RPower.

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, 21 Dec 2009 10:10:01 +0000

Monday Nifty was holding intraday support of 4960 till 3 pm but later on cracked that level. Intraday resistance near 4990. Metal stocks were the weakest while consumer durable stocks were the strongest for the day . Global market trend was mix during Indian market hours.

Last week Nifty had 4th Poor weekly closing in three months. Its warning to investors for protecting profit. Also the intermediate downtrend has started gaining momentum in last two days.

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Market Breadth : 0.30

Market Trends : Short term trend of market is down. 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 are 4900 , 4855 , 4800 , 4 700.

Resistance levels for Nifty are 4985 , 5020, 5180 , 5330 , 5550 , 5700, 6200

Breakout Stocks of the day : Wockhardt .

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

Nifty Today

Nishant Kalaskar — Thu, 10 Dec 2009 10:00:04 +0000

Thursday Nifty intraday resistance near 5140. Support near 4990. Consumer durables stocks were the weakest while Capital goods stocks were stronger than market. Global market trend was directionless & weak during Indian market hours.

Trend extreamly weak.

- - Market Breadth : 1.90

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 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 : BHEL.

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

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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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