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Nifty Technical Analysis

Nishant Kalaskar — Fri, 29 Jan 2010 10:38:23 +0000

Friday Nifty opened with gap on downside and for next three hours there was negative sentiment in the market. Market made panic low at 4766 after the CRR news and then there was sharp rise of 100 points in Nifty. Nifty intra day support was near 4780. Intra day resistance for Nifty was near 4880. Banks stocks were the strongest for the day, while metals stocks were weakest. Global market trend was direction-less during Indian stock market hours.

Observations:

High 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.
4650 important support for Nifty. Its 200 day average price of Nifty.

Market Technicals:

Market Breadth : 1.80

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 : Suzlon .

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Nifty Today

Nishant Kalaskar — Tue, 24 Nov 2009 11:05:20 +0000

Tuesday Nifty intraday support 5060. Resistance near 5110. Auto stocks were stronger than market today while metal stocks were weakre. Global market trend was down during Indian market hours.

Moderate chances of short term downtrend.

- - Market Breadth : 0.60

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 5060 , 5020, 4940 , 4900, 4855 , 4 700, 4670 , 4560 , 4520.

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

Breakout Stocks of the day : Maruti.

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

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Nifty Today

Nishant Kalaskar — Fri, 20 Nov 2009 10:44:48 +0000

Friday Nifty intraday support 4940. Resistance near 5060. Short Term trend is up now. Bank Stocks were stronger than market today. Global market trend was directionless during Indian market hours.

Strong weekly closing. Nifty’s Closing above 5080 is trigger for fresh buying.

- - Market Breadth : 2.2

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, 4940 , 4900, 4855 , 4 700, 4670 , 4560 , 4520.

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

Breakout Stocks of the day : ACC , Tata Steel.

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

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Market Today

Nishant Kalaskar — Wed, 04 Nov 2009 10:16:19 +0000

Wednesday market erased yestearday’s down move. Support 4670 on NIfty. Resistance above 4730. High volatility. Global market trend was Up during Indian market hours.

4850 Target for Pullback rally. If crossed new medium term up trend will start. Some stock may resume downtrend tomorrow.

Market Breadth : 7.30

Market Trends : Short term trend of market is Up. Medium term trend is Down. Medium term trend of market will turn Up if market closes above 4855 & 16370 for Nifty & Sensex respectively.

Support levels for Nifty are 4 700, 4670 , 4560 , 4520 , 4480 , 4400 , 4360 , 3870.

Resistance levels for Nifty are 4850 , 4900 .

Breakout Stocks : Rcap , Unitech , NTPC , LIC HSG, IDFC.

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

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Market today

Nishant Kalaskar — Wed, 28 Oct 2009 10:23:58 +0000

Wednesday market found support near 4780 on Nifty. Intraday resistance above 4860. RIL showed strength today. Bank stocks were weaker than market. IT stocks did better than market. Global market trend was down during Indian market hours.

American index Nasdaq has started medium term downtrend on Tuesday.

- - Market Breadth : 0.55

Market Trends : Short term trend of market is down. Medium term trend is Down. Medium term trend of market will turn Up if market closes above 5180 & 17500 for Nifty & Sensex respectively.

Support levels for Nifty are 4700 , 4560 , 4400 , 4360 , 3870.

Resistance levels for Nifty are 4840 ,4900 ,4920 , 4980 , 5050 , 5120 ,5220.

Breakout + Fresh Medium term Downtrend started in Tata Steel , GMR Infra , HDFC Bank , Maruti , ONGC , PFC, Simens , .

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Nishant Kalaskar — Tue, 08 Sep 2009 11:15:49 +0000

Tuesday Market faced selling pressure near 4840 level. There are signs profit booking in some of the stocks today. Market in a strong trend. Most probabaly dips will be bought in coming days. Metals , Oil & Gas stocks outperformed market today. Bank stocks were weaker than market today. Global markets were positive during Indian market hours.

Market Breadth : 1.50

Market Trends: Short term trend of market is up. Medium trend is up. Medium term trend will turn down if market closes bellow 4580 & 15360 for Nifty & Sensex respectively.

Support Levels for NIfty are 4710, 4740 , 4680 , 4640 , 4580 , 4510 , 4510.

Resistance levels for Nifty are 4850 , 4900 , 5000, 5050, 5170.

Breakout Stocks : SBI , RPL , RIL , Hindalco(+ve ) , Axis Bank , Idea , (-ve).

Compressed Stocks : Bharti , BHEL , HDIL , IOB , ONGC , GE Shipping.

(Reading Glossary is recommended for better understanding of this column.)