NIFTY TREND TECHNICAL ANALYSIS

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

FII AND DII ACTIVITY

Your guide to Foreign Fund Flows! Catch the latest FII trends and track their investments in India. Daily FII Activity DATE PURCHASES (Rs m) SALES (Rs m) NET INV (Rs m) Thu, 11 Jul 2,510 3,823 (1,313) Fri, 12 Jul 28,872 79,976 (51,104) Mon, 15 Jul 19,057 20,827 (1,770) Tue, 16 Jul 25,095 28,192 (3,097) Thu, 18 Jul 32,041 33,177 (1,136) Total 107,575 165,995 (58,420) Weekly FII Activity DATE NET INV (Rs m) Mon, 23 Sep (981) Tue, 24 Sep (176) Wed, 25 Sep (379) Thu, 26 Sep 24 Fri, 27 Sep 12,671 Total 11,159 Volatility persists! While the Indian stockmarkets were not generous to investors (declined week-on-week), the rain gods gave a handful to Mumbai and as usual, the city choked during the last week! This did have an impact on the daily volumes traded, which was low in the first three days, only to gain momentum in the later half. Despite a weak start, there was selective buying interest in some sectors. But senti...

NIFTY AND STOCKS UPDATE FOR 7 AUGUST

Markets at a Glance Indian indices are likely to open higher today largely mirroring positive Asian markets. The in-vestors will keep a close eye over the shares of DLF after the company announced its quarterly results post the market hours yesterday. The realty major has reported a 18% decline in its net profit at `293 crore for the quarter ended June 30, 2012. Meanwhile Asian shares are trading higher today, extending their previous session’s sharp rally on renewed optimism over possible European bond buying, after Germany backed the European Central Bank’s bond-buying plan, helped calmed worries of the Eurozone’s debt crisis. Further, Japan’s Nikkei advanced support-ed by well provided earnings. The commodities shares gaining strength tracking higher com-modities prices at LME. The SGX Nifty, Aug’12 contract last traded at 5,297, up by 3 points from previous session. Wall Street Update The US markets rose sharply on Monday after a lackluster trade, extended last week’s rally as...

Search This Blog