Nifty Resistance and Support
On 9 Dec 2009, we have mentioned the Nifty resistance at 5190 and support at 4950 and in this week nifty touched high of 5310. So after breaking resistance of 5190, Nifty went up till 5310 which is round 120 points in one month.
Coming week/month Resistance and Support of Nifty
At upside the Nifty is having resistance at 5350. Closing above this level and seeing further upside looks very difficult unless some big money from FII or some good news from Indian government comes into market or also some in policies.
At downside the Nifty is having immediate support at 5180, if it closes below this then it is expected to go down till its next support at 5120. If Nifty closes below 5120 level then its next important support is at 4950.
Please have a look on following technical chart to get more info.
In the month of Jan 2010
The companies will start announcing their Q3 results from coming week. The Infosys Technologies will declare its Q3 results on Tuesday 12 Jan 2010. So the rest of the days of January month will be volatile as markets will react to top companies results.
Technical chart of Nifty with Resistance and Support levels shown
Where Markets are moving?
(Posted - 10 Jan 2010)
Coming week/Month Market trend (Posted - 07 Feb 2010)
Nifty is trading at very important level which is 200 DMA (daily moving average).
In the year 2008, after breaking this level in downward direction, Nifty dropped till 2500 level.
In the year 2009, after breaking this level in upside direction, Nifty touched the high of 5300. Nifty has provided almost 100% returns in the year 2009.
In this year 2010
In the year 2010, Nifty has corrected from 5300 to 4700.
The 200 DMA for Nifty is at 4630 and currently it is trading above 4700.
Watch the level of 4630, as long as Nifty trades above this level it is expected to be safe and closing below this level may take Nifty to 4450 or even till 4250 or even lower.
In coming week/month the Nifty is having following Support and Resistance levels.
Resistance - 4950
Support at - 4630.
(The following figure will provide clearer picture)
Markets will take clue from Budget announcements which are expected in the month of March 2010.
Some Fundamentals
RBI has raised the Repo and reverse Repo rate (interest rates) on Friday 19 March 2010 and next RBI policy for financial year 2010-2011 is due on 20 April 2010.
The announcement would definitely impact market if any increase in interest rate is announced.
Coming Month technical analysis
Going further the Nifty would face very strong resistance at 5400.After breaking this level further upside is expected. Even if it breaks then upside would be very few points.
Taking into consideration current market valuations it looks difficult for market to go further 5400 unless and until any strong news/events enters into market.
At the downside, the Nifty has closed below its short term moving average (20 DMA-daily moving average), Now it is expected to go down till 5165 which is its 50 DMA.
Going further the nifty is having support levels at 5165, 5060, 4920 and final is 4800 which is 200 DMA which is considered very important to trace whether the market is bullish or bearish.
In the month of Feb 2010 the Nifty had went down till 4800 but did not break this level and bounced back and touched high of 5390.
The following chart shows the resistance and levels.
Coming week/Month Market trend (Posted - 21 Mar 2010)
Some Technical analysis of Nifty
Currently Nifty is trading its high level of the year 2010 which is at near 5300. Nifty closing above this level may take Nifty to upward direction.So in short it is having resistance at 5300
At the downside the Nifty is having support at 5200; if Nifty closes below 5200 then it is expected to come down till 5100 or even below.
The technical analysis of Nifty chart is as shown below with Resistance and support levels market on chart.
Some Fundamentals
RBI has raised the Repo and reverse repo rate (interest rates) on Friday 19 March 2010.
The RBI policy for financial year 2010-2011 announcement is scheduled on 20 April 2010.
The announcement would definitely impact market if any increase in interest rate is announced.
Following terms to find more information
stock technical analysis
technical analysis
technical analysis software
technical analysis stocks
the charts
trading charts
learn technical analysis
technical analysis charting
technical analysis charts
technical analysis course
technical analysis indicator
technical analysis of stock market
buy sell stock signals
stock market indicators
free stock market graphs
charting tools
nse technical analysis
online technical analysis
shares technical analysis
software for technical analysis
stock charting
stock market charts
stock market technical analysis
technical analysis of stock
technical analysis of stocks
technical analysis tools
technical analysis trading
technical analysis training
bar charts
books on technical analysis
bse charting
bse charts
online stock trading
commodity trading
stock market charts
technical analysis a to z
technical analysis candlestick
technical analysis charting
technical analysis commodities
technical analysis charts
technical analysis education
technical analysis explained
free technical analysis
charting software
candlestick charts
candlestick charting
charts graphs
commodity charts
currency charts
flow charts
flow charting
futures charts
stock charting
stock charts
bse technical analysis
charting bseindia
stock market guide
Free stock charts
stock market indicators
share market alerts
technical analysis indicator technical analysis india
technical analysis of stock
daily technical analysis
day trading technical analysis
fibonacci technical analysis
fundamental analysis
fundamental technical analysis
gantt charts
how to do technical analysis
intraday charts
intraday technical analysis
learning technical analysis
line charts
market technical analysis
nse charts
stock market chart
free technical analysis software
Free day trading techniques
technical analysis stock
technical analysis charts
technical analysis indicators
technical analysis of financial
technical analysis of shares
Disclaimer: Information presented on this site is a guide only. It may not necessarily be correct and is not intended to be taken as financial advice nor has it been prepared with regard to the individual investment needs and objectives or financial situation of any particular person. Stock quotes are believed to be accurate and correctly dated, but www.intradaystocktips.org does not warrant or guarantee their accuracy or date.
www.intradaystocktips.org takes no responsibility for any investment decisions based on recommendations provided on website.
Financial contents like Technical charts, historical charts and quotes are taken from NSE and Yahoo sites.
Note - All quotes are delayed by 15 minutes.
Google Adsense Ads are posted on every page of the website so visitors clicking on Ads and going to those links and carrying any financial deal is not at all related to www.intradaystocktips.org and any financial deal should be done on their own sole responsibility.
Please read at www.intradaystocktips.org/disclaimer.php before using any material or advice given at www.intradaystocktips.org
Copyright © 2010 intradaystocktips.org. All Rights Reserved.
Where Markets are moving?
(Posted - 23 May 2010)
Your Trading Place
Stock markets across the world are going through a correction phase at the moment. The Indian markets also went through a correction over the last few days. The European crisis, expectations of its spread to other countries, and the uncertainty around a definite solution to the Euro crisis, are the main reasons behind the current negative sentiments in the markets.
Although the European Union has agreed to an emergency fund of almost one trillion USD to support the struggling countries in the Euro zone to manage their sovereign debt, the general feeling is that this will just delay the sovereign default of some countries.
On the other hand, investors have a chance to take profits off the table as well. The markets have been in upward direction since the Union Budget and the current global news has triggered a deeper correction and profit booking in the markets. Fundamentally, there is no change in the domestic growth story or businesses outlook. In fact, the domestic markets would be one of the least-affected ones by any crisis in the developed countries, and may benefit in a sense due to the need for cost cutting in those countries.
Investor with a long-term horizon should not be worried by volatile market movements and hold on to their positions. The current market correction has given a good opportunity for investors looking at building an equity portfolio.
Till what levels the markets can do down
Nifty and Sensex has broken the 200 DMA (daily moving average). The 200 DMA is considered as important level in technical analysis to find the market trend.
The breaking the 200 DMA to downward direction is bearish sign.
The going further the Nifty will face following levels.
Resistance - 5150
Support 1 - 4850
Support 2 - 4700
The following technical chart would provide you more clarification
The final outcome
Indian markets have rallied more then 90% in one year and some profit booking was pending and taking into consideration European crises the Indian markets are correcting.
Investors looking to make the money in share market should look such opportunities to buy good fundamentally strong stocks and very importantly buying at lower or at appropriate valuations.
If you are looking to buy stocks then please visit “Researched stock” section and “where to invest and why” section on our home page and very importantly please follow the notes mentioned on these pages as markets are bearish further downtrend is expected.
Where the Markets are moving?
After continuous gains of 9 week, this week (ended on 16 April 2010) markets have posted losses.
Nifty has closed below its short term moving average (20 DMA-daily moving average), which was at 5266, and closed at 5263, after going low at 5238.
