Posts Tagged ‘ Resistances ’

Nifty Weekly Outlook (26th -30th Dec)

Nifty Spot Closing Price @ 4714
Nifty Spot Supports @ 4630-4500
Nifty Spot Resistances @ 4840-4970

Last week Nifty recovered some ground from 4539 and closed at 4714. Recovery was more due to short covering from technical oversold zone. Next week would be last week for 2011 which was bad for investors as well as traders. For next week, Nifty spot has support @ 4630. If closes below then earlier low of 4540 possible. If Nifty spot holds 4630, Then recovery till 4840 and even 4930-5010 possible. Nifty to go beyond 4840 needs value buying which need to be seen in last week and early next year. One can Buy Contra longs with Strict SL and below 4630 spot closing avoid short term longs. Medium term is bearish below 5300 weekly spot closing. Short term is neutral. Bearish below 4630 & Bullish above 4840 spot closing. 4480-4380 is long term support.

Endless calls of 4200-4000 target and endless downgrades of India has already come though the lowered earnings of Sensex comes to 12,000-11,000. Long term investors don’t need to panic at this junction. Long term investors will gain a lot if they HOLD or Buy quality fundamental scrips for 1-2 year time frame. Sensex is trading at attractive levels and many stocks are even trading at more attractive levels.

” Trade with Levels not with Hope ”

Regards,
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2011
12/24
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Nifty Weekly Technical Analysis (03rd-07th Oct)

Nifty Spot Closing Price @ 4943
Nifty Spot Supports @ 4843-4720
Nifty Spot Resistances @ 5051-5170

Last week market continued with its downtrend and made another low on weekly basis. Nifty Spot made low of 4758 very close to crucial support of 4720. Although market recovered from 4758 to 5034 after Monday steep fall but it closed at 4943 due to profit booking. Technically, Market is still range-bound and sideways with no clear direction. On Downside, Strong supports stands at 4843-4720. On upside, immediate resistance stands at 5051. Closing above for 2 days, It will move towards 5121-5170-5238. As of now, Market is Buy on decline until and unless holds 4720 and Sell on highs until and unless fails to cross and closes above 5170.

Short term is side-way/neutral. Medium term is Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip’s in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.

” Trade with Levels not with Hope ”

Regards,

http://www.equityahead.com
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http://www.equityahead.in

2011
10/02
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Nifty Weekly Technical Analysis (19th-23rd Sept)

Nifty Spot Closing Price @ 5084
Nifty Spot Supports @ 4980-4865-4750
Nifty Spot Resistances @ 5180-5268-5400

We didn’t posted Nifty Technical Analysis last week.

last week, Nifty recovered from 4900 levels and closed at 5084 after hitting high of 5143. Petrol price hike of Rs.3 per litre and a 25 bps hike in the interest rate has effected the upward momentum. For Next Week, Nifty is still in side-way zone between 4900-5180. As long as 4980 holds, Nifty can move upwards towards 5180-5268. Once Nifty Spot closes above 5268 for 2-3 days, Trend will change into Bullish and 5400 will come in picture. Below 4980, Next crucial support stands at 4900. Closing below 4900, Next target would be 4800-4750 zone.

Short term is side-way/neutral and medium term are Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip’s in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.

” Trade with Levels not with Hope ”

Regards,

http://www.equityahead.com
http://www.equityahead.net
http://www.equityahead.in

2011
09/18
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Nifty Technical Analysis (16th-19th Aug)

Nifty Spot Closing Price @ 5073
Nifty Spot Supports @ 5000-4910
Nifty Spot Resistances @ 5180-5350

Last week in our Nifty technical analysis, We mentioned Nifty is Bearish below 5350 and 5130-5050-4970 possible. We said Bears will try to short on every rise. Nifty Hit below 4950 and closed at 5073. Nifty cracked big time due to S&P downgraded the US for the first time in 70 years

For Next week, Nifty is still in bearish zone below 5120. Next Supports stands at 5030-4970-4910. As long as Nifty trades below 5120, Trend will be bearish and last Monday low is possible. Closing Above 5180 for 2-3 days, then trend will become mild positive and it can move towards 5330-5400 zone. Now, Both short term and medium term are Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip’s in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.

” Trade with Levels not with Hope ”

Regards,
http://www.equityahead.com
http://www.equityahead.net
http://www.equityahead.in

2011
08/15
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Nifty Weekly Technical Analysis (20th-24th June)

Nifty Closing Price @ 5366
Nifty Supports @ 5300-5177
Nifty Resistances @ 5470-5600

Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral with some negative bias. Trend can only be bullish if closes above 5600. Closing below 5451, Nifty will move towards 5370-5300. Nifty Hit 5355 on Friday. For Next week, Trend is negative as of now until nifty closes above resistance zone of 5470. Next immediate nifty supports stands @ 5330-5280. Below 5280, it could move towards Feb low of 5238-5177. On upside, near term resistance stands @ 5470. Closing above 5470 with good volume can move nifty towards 5530-5600 where major resistance will come in picture. Now, Both Short term is bearish and Medium term is bearish below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip’s in systematic way for 1-2 year time-frame.

” Trade with Levels not with Hope ”

Regards,
http://www.equityahead.com
http://www.equityahead.net
http://www.equityahead.in

2011
06/19
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