Free Nifty chart at the end of the column.

• Nifty will remain Bullish as long as its holding 4870.
• Nifty is trading in significant resistance zone of 4900-5000. Some sideways move is possible in next few days.
• There is moderate to high risk in fresh long term investment. Invest now only if you have habit of holding stocks for more than 4-5 Years.

• Nifty’s short term trend is Up. Nifty’s Intermediate trend is UP.

• Strong Stocks :

• There is evidence of  Profit booking by bulls near 5700 on Nifty. On down side Nifty may test 5510.

• Today Out 194 of  heavily traded stocks 147 are in short term up trend & remaining  47 are in short term down trend.

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

• Nifty target  5950.

• Resistance for Nifty : 5650 ,5720 , 5770 , 5800 , 5840.

• Support for Nifty : 5510 , 5450, 5390.

• Breakout Stocks : RIL , Page Ind. , Kajaria Cer, SRF , .

• Bank Nifty is in intermediate UP trend.

• CNX IT is in Up trend.

• Indian CNX 500 index is in Up trend.

• American Dow Jones Industrial Avg.  is in Intermediate Up trend.

• German Dax Composite Index is in intermediate Up trend.

• American dollar is in up trend. Euro is in downtrend.

I will be conducting Technical Analysis Course in Pune. Contact me to Join the Course.

Nishant Kalaskar

www.trendstoday.in

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

• This week Nifty has given poor weekly closing after long period.  On Monday market may test 6070 level on Nifty.

• Breakout bellow 5930 might create panic in market. So 5930 is exceptionally important level in next few days.

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

• Today 260 stocks were traded heavily. Out of them 73  stocks are in short term up trend and 187 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 : RIIL , Kotak Bank , JP Asso , Tata Chemical ,  Balaji Tele. , Max India , KPIT Cummins , Indiabulls Sec. , Godrej Ind. ,

• Global markets trend is down.

I will be conducting Technical Analysis courses in Pune. Contact me to know the batch schedule.e

Nishant Kalaskar.

• 2.05 pm , 6 Aug 10 : Sharp selling in German Dax.
• 8.10 am , 6 Aug 10 : Global Trend is weak and down at present. Watch 5430.
• Nifty is back in the range of (5350-5450). Chances of yesterday’s  breakout failure are there now.
• Some stocks may recover on Friday only if Nifty sustains above 5430.
• Watch RIL at 980-1000. Failure to hold that may create panic in Market.
• Market Breadth : 0.40
• Market is in short term uptrend. Intermediate trend of market remains up.
• Nishant’s Oscillator indicating maximum upside up to  5690 to Nifty in near term.
• Nifty’s upside target is 5630. The red trendline (5560) shown in chart bellow  can act as resistance to nifty.
• As written On Monday  European markets might come  under pressure  due to profit booking now.
• American Nasdaq Composite’s  target : 2350.

Nishant Kalaskar (09881575125)

Observations & Possibilities:

• Global markets have given poor weekly closing with long term impact.
• Closing above the  pink line in the chart may attract buyers & short covering.
• The Intermediate trend remains DOWN with target of  4960 on NIfty.
• Breaking 4960 may take Nifty to  4680 & 4200 in few months.
• Intermediate trend of market will turn UP if  Nifty closes above 5280.
• Moderate risk in initiating  fresh long term investment.

Market Technicals:

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 above 5280 for Nifty.

Support levels for Nifty are 4960 ,4840 , 4680 , 4200 , 3500.

Resistance levels for Nifty are 5050, 5200, 5340 , 5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

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Observations & Possibilities:

• Nifty has broken the important level of 5230. The Intermediate trend is DOWN now.
• Breaking 4960 may take Nifty to 4200 in few months.
• On Friday Nifty has given a  poor weekly closing with evidence of  profit booking by investors.
• Volatility has returned  with  intermediate downtrend.
• Closing above 5400 will bring 5570-5600 in picture.
• Higher risk in initiating  fresh long term investment.

Market Technicals:

Market Breadth : 0.50

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

Intermediate trend of market will turn UP if market closes above 5375 for Nifty.

Support levels for Nifty are  5040 , 4960 4200 , 3500.

Resistance levels for Nifty are 5230 ,5300 ,5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

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Observations & Possibilities:

• Nifty has given a  poor weekly closing with evidence of  profit booking by investors on weekly chart
• Failure to hold 5230 (the blue line in chart) mark on Nifty  may take it to  5130 & 5040 on downside.
• Volatility has returned  with threat to intermediate uptrend.
• Closing above 5400 will bring 5570-5600 in picture.
• Higher risk in initiating  fresh long term investment.

Market Technicals:

Market Breadth : 0.30

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

Intermediate trend of market will turn DOWN if market closes bellow 5230 & 17340 for Nifty & Sensex respectively.

Support levels for Nifty are  5230 ,5040 , 4960.

Resistance levels for Nifty are 5300 ,5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)

-                                                                                                                                    -

Observations & Possibilities:

• Volatility has returned  with threat to intermediate uptrend.
• On downside Nifty may test 5230, the level bellow which intermediate trend will turn down.
• Failure to hold 5230 mark on Nifty  may take it to  5030 & 5040 on downside.
• Closing above 5400 will bring 5570-5600 in picture.
• Higher risk in initiating  fresh long term investment.

Market Technicals:

Market Breadth : 0.50

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

Intermediate trend of market will turn DOWN if market closes bellow 5230 & 17340 for Nifty & Sensex respectively.

Support levels for Nifty are  5230 ,5040 , 4960.

Resistance levels for Nifty are 5300 ,5400,  5570 , 5740.

-Nishant Kalaskar.  (9881575125)