Trend Line [20-01-2011]

YESTERDAYS COMMENTS AND PERFORMANCE : 

YESTERDAYS Predicted Nifty level and Actual levels :

Predicted Trade resistance 5759-5748 [5747.65 EXACTTTTTTTTTTTT High]

Opening itself at the resistance and lower tops in intra 5745, from

there continuous down with minus closing.

OHLC : open 5737, High 5747 Low 5662, Close 5691

20th January 2011 - Technical View of Nifty / Technical view of Market :

View of Market : 

Todys Quartely result : Biocon, JSW energy, Kirloskar Bros, KotakMahBank, SRF, TVS Motor, Wipro Zee News, and YesBank

and Many other mid cap and small cap stocks 

Technical View of NIFTY : 

+ve : Close around the triple bottom trend line support 5690-5683

and honour the 200EMA 5649.  Once it honour the +ve breakout trend

line 5600 on closing basis , then market may recover.

-ve : Closed negative, and honour the Lower top trend line yesterday,

Fibonacci SWING 6338-5348, 61.8% at 5726 Lower tops Trend line, Violation of Triple bottom, Trend line coinside at the same place. Very strong resistance at 5634-5747.  FIBO Swing 6181-5624's 78.6% 5743.  So cluster of resistance around 5726-5755.  

+ve : 

Chart view of NIFTY :

+ve breakout support at 5600 and investors sl also around there.

Momentum indicator/Oscillator indicators in over sold. 

Print this post