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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 — Thu, 28 Jan 2010 10:20:03 +0000

Thursday Nifty opened with gap on upside and for next two hours the was positive sentiment in the market. But still Bears are having control over market and because of that market had sharp fall of 100 points in Nifty after testing 4930. Nifty intra day support was near 4960. Intra day resistance for Nifty was near 4930. Metal, Banks, Pharma stocks were the strongest for the day. Global market trend was up during Indian stock market hours.

Observations:

Moderate chances of short term uptrend.
Important support of 5000 level has been broken decisively on Nifty.
High Volatility seen in market.
The fall in Nifty from 19 Jan 2010 is the sharpest in last four months.
On 22 Jan 2010, Friday market has given Poor weekly closing with long term impact.

Market Technicals:

Market Breadth : 1.50

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

Intermediate trend of market will turn UP if market closes above 5290 & 17712 for Nifty & Sensex respectively.

Support levels for Nifty are 4840 , 4800 , 4730 , 4 690 , 4650 , 4050 , 3300 .

Resistance levels for Nifty are 4935 , 4985 , 5180 , 5130 ,5240 , 5330 , 5570.

Breakout Stocks of the day : Bharti Airtel , Axis Bank .

- Nishant Kalaskar.

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Nifty Technical Analysis

Nishant Kalaskar — Wed, 27 Jan 2010 10:07:47 +0000

Wednesday Nifty opened with gap on downside and had free fall of about 150 points. Bears are having total control over market. Nifty could not establish any intra day support due to free fall in market. Intra day resistance for Nifty was near 4900. Auto , Metal stocks were the weakest for the day. Global market trend was down during Indian market hours.

Observations:

Important support of 5000 level is broken decisively on Nifty today. There is threat of bear market.
Today’s Volatility highest in last one month.
The fall in Nifty from 19 Jan 2010 is the sharpest in last four months.
Last Friday market has given Poor weekly closing with long term impact.

Market Technicals:

Market Breadth : 0.05

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

Resistance levels for Nifty are 4935 ,4985 ,5180 , 5130 ,5240 , 5330 , 5570.

Breakout Stocks of the day : SBI , Tata Steel , Ibulls Real .

- Nishant Kalaskar.

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Nifty Technical analysis

Nishant Kalaskar — Fri, 22 Jan 2010 10:29:03 +0000

Friday Nifty opened with panic and then recovered from the day low. Bellow 518It tried to test 5180 level intraday but failed to sustain there. Intra day support for Nifty was near 4950 & resistance near 5180. IT 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:

This Friday market has given Poor weekly closing with long term impact.
The uptrend in Nifty from November 09 has lost the steam as compared to the rise in Nifty till November 2009.
Trendline support near 5000 for Nifty on weekly chart.
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Market Technicals:

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 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 : L&T .

Reading Glossary is recommended for better understanding of this column.

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