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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• 5850 key level for traders. Few stocks may face selling pressure on Monday.
• Market outlook  remains positive for investors as long as Nifty is trading above 5600.
• Nifty’s short term trend is up. Nifty’s Intermediate trend is up.
• Nifty RSI is  suggesting caution for bulls.
• Today  297 stocks were traded heavily. Out of them 184 stocks are in short term up trend and 113 stocks are in short term down trend.
• Nifty up side Target :  6440, 7000.
• Resistance for Nifty :  5900 , 5925 , 6030 , 6100 , 6170.
• Support for Nifty :  5810 , 5790 , 5600 , 5550.
• Most of the global markets are trading near their resistance levels. Short term downtrend possible across the globe.

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Reading Glossary strongly recommended for better understanding of this column.

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NIFTY Outlook

• Nifty may test 5340 in next few days. Lets see if it starts fresh intermediate uptrend or not.
• Some stocks may resume the downtrend tomorrow. 5305 is important resistance to watch on Nifty tomorrow.
• 5120 & 4950 are two targets for currant nifty downtrend.
• American Nasdaq , S&P 500 have broken important support levels, this is a sign of long term bearishness across the globe. In 2010 Nifty held 4800 level thrice but in future there are moderate chances of Nifty not holding that famous support zone.
• Moderate to high risk in fresh long term ( 1 to 3 years) investment.

Market Technicals

Market Breadth : 2.70

Nifty Trends : Short term trend is up. Intermediate trend is DOWN.

Nifty Trend Reversal Point : 5340

Nifty Support levels are 5280, 5200 , 5120, 5050, 5025, 4960, 4840, 4680, 4620, 4200, 3500.

Nifty Resistance levels are 5340, 5400, 5700.

-Nishant Kalaskar(9881575125)

Tuesday Nifty was trading sideways near the 5120 level , a pause in uptrend.  Nifty established  5100 as intra day support. Metel stocks were weakest for the day. Global market trend was directionless during  Indian stock market hours.

Observations:

• A compressed day is  formed on Nifty chart. Expect 2 to 8% move in coming days.
• Market is overbought in short term. High chances of short term downtrend.
• 5200 is important resistance zone for Nifty.
• 5400 is looking impossible at present , but any upside  is possible in intermediate uptrend , so be ready.

Market Technicals:

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 4805 & 16075 for Nifty & Sensex respectively.

Support levels for Nifty are  5050 , 4950 ,  4840 , 4800 ,4690 , 4650 , 4470, 4050 , 3300 .

Resistance levels for Nifty are 5120 , 5160 , 5195  , 5220 , 5240 , 5330 ,5400,  5570.

Breakout  Stocks of the day : TTML

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.

-                                                                                                                                 -

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

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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 : MRPL.

Reading Glossary is recommended for better understanding of this column.

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Moderate chances of short term trend turning up.

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Market Breadth : 0.40

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 : BEL.

Reading Glossary is recommended for better understanding of this column.

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4th Poor weekly closing by market in last three months.

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Market Breadth : 0.40

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  4985 , 4900 ,  4855 , 4 700.

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

Breakout  Stocks of the day : RIL.

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