Nifty Intra Day Chart With Important Levels

nifty 5/21 ema



nifty ema 14/55

nifty 5d

BB chart

Sunday, December 28, 2008

Wkly Tech: Crucial trading sessions ahead

The markets ended the penultimate week of the year on a weaker note. The Sensex remained in the red throughout the holiday-shortened week as derivates expiry and the India-Pakistan tension weighed on the market sentiment.
The Sensex, which was in the overbought zone, saw a more-than-expected downside with the benchmark sliding 7.6 per cent (771 points) to 9,329. Among the index stocks — Jaiprakash Associates, Mahindra & Mahindra, Satyam, Tata Motors, Reliance Infrastructure, ICICI Bank, Sterlite, Hindalco, Reliance, DLF and Bhel — dropped 10-17 per cent each.
Geo-political factors followed by the quarterly numbers are likely to dominate the market sentiment for a while. Around this time last year, the index was holding the 20,000-mark. So steep has been the fall that the index is most likely to end the year with a loss in excess of 50 per cent.
Further downside could see the index take support around the 9,000-9,100 levels, while on the upside, the index is likely to face resistance around 9,670.
The NSE Nifty touched a high of 3,110, then slipped to a low of 2,845 — down 266 points from the week’s high. The Nifty finally ended the week with a loss of 220 points at 2,857.
The Nifty is precariously poised just below its short-term (20 days) and mid-term (50 days) daily moving average (DMA). While the short-term DMA is 2,873, the mid-term DMA is 2,908. With both lines converging and the index at around the same levels, it indicates some crucial trading sessions in the coming days.
As and when the short-term DMA crosses the mid-term DMA, the trend will change to positive. However, for this to happen, the index needs to sustain above the 2,800-mark for the next three-four trading sessions.
As per the fibonacci analysis, the Nifty is likely to find support around 2,755 in the short term and will face resistance around the 2,900-2,960 levels. A sustained break of 2,750 could accelerate the fall in the index.

Sunday, December 14, 2008

Nifty resistance at 2960 / 3040 and support at 2670

Nifty moved close to our first short-term target at 2958 and closed with a 207-point gain last week. The short-term trend in the index is positive since the trough at 2502. This up-trend can extend to 3112 or 3490. The medium trend in the index is, however, sideways and a move between 2500 and 3500 is likely in this period. The medium-term view will turn positive only on a weekly close above 3500.
Nifty will face resistance from 2960 and 3040 in the week ahead. A downward reversal from the resistance zone between 2950 and 3050 will pull the index lower to 2670 or 2500 once more.

Sunday, December 7, 2008

nifty may spurt upto 2958

Nifty too trudged sideways between 2550 and 2850 last week. A spurt in the early part of next week will take the index up to 2958 or to the 50-day moving average at 3150. A reversal below the first resistance would provide the opportunity to initiate fresh shorts in the index.
However, if the Nifty declines below 2500, it would imply that the down move from the 3240 peak has resumed and the downward targets in this case are at 2365 and 2083. The preferred view is that the index moves sideways between 2500 and 3500 over the medium-term.
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