Skip to main content

NIFTY TREND TECHNICAL ANALYSIS

By

Indian indices closed higher at 5282.5, up by 66.85 points or 1.28%. Today's gains were largely in reaction to the better than expected payrolls data in the US, appreciation in rupee against dollar after Finance Minister said that the government would unveil policies to attract investments in mu-tual funds.
Nifty has finally witnessed sharp upside breakout from the strong primary resistance of around 5,250 and closed above that level. Nifty opened today with gap up of around 40 points and continued its northward journey throughout the session and tested its next resistance of 5,300, as we emphasized earlier that above 5,250 market can test 5,300. Nifty has formed a Bull candle with no lower shadow that indicate buying support at lower levels, and at the same time market also create upper shadow suggest that traders cautiously booking profit near immediate resistance level of 5,300. The index also made a new higher top higher bottom formation which reflects positive bias, and above 5,300 market can face resistance at around 5,345-5,350.Trading strategy would be to Sell if market resist at 5,320 and Buy if support at 5,260.
First resistance for the Nifty is 5,297 and next resistance 5,311 and first support for the Nifty is 5,265 and next support at 5,247.TECHNO TRADES TRADING SYSTEMS 

Comments

Post a Comment

Popular posts from this blog

FII DII ACTIVITY 13 AUG

By
FII trading activity on NSE and BSE FII trading activity on NSE and BSE on Capital Market Segment The following is combined FII trading data across NSE and BSE collated on the basis of trades executed by FIIs on 13-Aug-2012 FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 13-Aug-2012 2020.01 1680.25 339.76 Domestic Institutional Investors trading activity on NSE and BSE on Capital Market Segment The following is combined Domestic Institutional Investors trading data across NSE and BSE collated on the basis of trades executed by Banks, DFIs, Insurance, MFs and New Pension System on 13-Aug-2012 DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 13-Aug-2012 701.28 877.62 -176.34 The data is based on today's activity compiled on the basis of trading codes entered by trading members at the time of orde...
Post a Comment
Read more

FII FLOWS INCREASES

By
Flows into India likely to remain limited in the near term, as relative valuations of stocks versus emerging markets do not look attractive, Macquarie says. India thus “may be staring at a possible negative 12 month forward returns,” Macquarie says. The controversy over taxation for foreign investors, as well as macro challenges, are key reasons for net outflows of foreign institutional investors (FIIs) in April vs strong Jan-March inflows, Macquarie says. Indian stocks look historically cheap, but is trading at a premium of around 33 percent vs emerging markets vs the long-term average of 27 percent, Macquarie estimates. Nifty is seen trading in 5,000 to 5,500 range and the Sensex in 16,000 to 18,000 range, as “global liquidity glut” to provide some support, Macquarie says. Reuters
Post a Comment
Read more

Day Trading Software - Does This Really Work

By
By  Peter Skotnicky Can day trading software be an invaluable tool when it comes to choosing profitable stocks? Exploring this somewhat new technology may help with selecting the smart trade. Day trading software can give you an extra advantage to choosing the right trades. By using algorithms, the software helps choose the stocks that will be the most profitable. If this is a new concept for you as with most people when it comes to day trading, here are a few basics. The trade day starts at 8 a.m. and is over at 4 p.m. Eastern Time. Since most people would like to know what is happening on the stock market before they begin trading, this is where the software comes into the picture. Choose a style that delivers the most important aspects to you before the trade day begins. News feeds and analysis of the best choices is extremely important. The stock market is complicated and figuring out what all the charts mean is nearly impossible for a newcomer. If you want to know ...
Post a Comment
Read more