Nifty

#8 Nifty Update

NIFTY boomed today with another century in recent times. NIFTY was expected to be down but was positive today because of US and other Asian markets were positive last night. NIFTY for first few hours hovered around the 5783 level which was our first resistance level. Around 11pm it showed some negative side on the …

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Nifty

#7 Nifty Update

NIFTY closed at 5740 almost flat with 11 points positive. NIFTY was quite a bit volatile today with its high of 82 points from the low. Infosys the hot topic in the stock market was also down below its 200 DEMA. Market right now is trending in stock specific situation rather then NIFTY as a …

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Nifty

#6 Nifty Update

NIFTY banged today with the two main Headlines: 1) INFOSYS result were below expectation 2) Inflation increase on MoM for the March 2011. NIFTY closed in red at 5824 which was my 2cd support for the day. As expected we show some profit booking in early trades so it opened negative but as soon as …

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Nifty

#5 Nifty Update

NIFTY made a brilliant century with 125 points unbeaten. NIFTY opened at 5750 and closed at 5911. NIFTY turned back from the crucial support level as I had mentioned in my earlier posts. But NIFTY’s century was just unexpected. It has created a bullish engulfing pattern today signaling a temporary bullish move for the index. …

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Nifty

#4 Nifty Update

NIFTY as expected closed in red today at 5785.70.  NIFTY had two big news today 1) Sun Pharma’s Deal with Merck and 2)IIP date of Feb. Sun Pharma news was stock specific and it was a deal worth 60000 cr while IIP data were negative which acted as a catalyst to bearish trend for the …

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Nifty

#3 Nifty Update

NIFTY closed in Red at 5842 as expected. It made a low at 5822 near my suggested level of 5824. NIFTY first hovered around the level of 5862 which was my first support after breaking that it came down to 5822 which was next support. NIFTY now has confirmed a small correction about 100 points …

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Nifty

#2 Nifty Update

NIFTY closed today at 5885.70. NIFTY made low and took support at 5866 as mentioned by me yesterday.  Today NIFTY daily created a Doji which is a sign of reversal of prevailing trend which in our case is bullish trend.  5day EMA is at 5866 which is acting as a support for NIFTY since last …

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Nifty

#1 Nifty Update

NIFTY closed at 5891.75 today. NIFTY daily momentum indicators are trading in overbought condition but Weekly indicators are yet bullish on the market which means that there might be small correction of 50-100 points with 2-3 trading sessions. On daily charts NIFTY is trading above all the moving averages and at the same time we …

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