Sep 26,2008
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NIFTY closes at 4110.55. Sensex closes at 13547.18.
No significant technical signal has emerged to predict the direction of the NIFTY.
4243 is the immediate resistance level. Next support lies around 4040. Asian markets trade negative despite good positive close in dow, nasdaq and s&p.
If there is a good positive momentum NIFTY could test 4350 level in medium term.
But if it trades negative consistently a new low below 3790 could be expected in medium term.
Friday, September 26, 2008
Thursday, September 25, 2008
Sep 25,2008
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NIFTY closes at 4161.25. Sensex closes at 13692.52.
No significant technical signal has emerged to predict the direction of the NIFTY.
4243 is the immediate resistance level. Next support lies around 4040. Asian markets donot provide enough clues to predict the direction of the market.
If there is a good positive momentum NIFTY could test 4350 level.
But if it trades negative consistently a new low below 3790 could be expected in medium term.
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NIFTY closes at 4161.25. Sensex closes at 13692.52.
No significant technical signal has emerged to predict the direction of the NIFTY.
4243 is the immediate resistance level. Next support lies around 4040. Asian markets donot provide enough clues to predict the direction of the market.
If there is a good positive momentum NIFTY could test 4350 level.
But if it trades negative consistently a new low below 3790 could be expected in medium term.
Wednesday, September 24, 2008
Sep 24,2008
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NIFTY closes at 4126.90. Sensex closes at 13570.31.
As of now NIFTY blindly follows world market. Next support lies around 4040. Asian markets donot provide enough clues to predict the direction of the market.
4157 is the immediate resistance level. If there is a good positive momentum NIFTY could test 4350 level.
But if it trades negative consistently a new low below 3790 could be expected in medium term.
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NIFTY closes at 4126.90. Sensex closes at 13570.31.
As of now NIFTY blindly follows world market. Next support lies around 4040. Asian markets donot provide enough clues to predict the direction of the market.
4157 is the immediate resistance level. If there is a good positive momentum NIFTY could test 4350 level.
But if it trades negative consistently a new low below 3790 could be expected in medium term.
Tuesday, September 23, 2008
Sep 23,2008
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NIFTY closes at 4223.05. Sensex closes at 13994.96.
World market trend is weak due to persistence of doubt over the bailout package and soaring oil prices. Dollar has taken a huge hit and it might depreciate further due to fiscal weakening of US economy, as a result of bail out package. This would help the commodity prices zooming up. Inflationary pressures may emerge again.
If there is a positive momentum markets might test 4350 level. But world market cues don't support it. If Consistent negativity prevails for few more days, NIFTY could even test a new low below 3790.
4183 - immediate support. Immediate resistance - 4320.
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NIFTY closes at 4223.05. Sensex closes at 13994.96.
World market trend is weak due to persistence of doubt over the bailout package and soaring oil prices. Dollar has taken a huge hit and it might depreciate further due to fiscal weakening of US economy, as a result of bail out package. This would help the commodity prices zooming up. Inflationary pressures may emerge again.
If there is a positive momentum markets might test 4350 level. But world market cues don't support it. If Consistent negativity prevails for few more days, NIFTY could even test a new low below 3790.
4183 - immediate support. Immediate resistance - 4320.
Monday, September 22, 2008
Sep 22,2008
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NIFTY closes at 4245.25. Sensex closes at 14042.32.
"A high above 4237 would make NIFTY charts strong, which would help it rally further in the days to come. If the momentum helps it could be tested today itself." - Quote from friday's post. NIFTY moves as per the expectation.
World markets trend helps NIFTY to stay bullish with good technical pattern. A medium term target around 4550 could be achieved with ease, provided the momentum helps.
4183 - immediate support. Immediate resistance - 4320.
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NIFTY closes at 4245.25. Sensex closes at 14042.32.
"A high above 4237 would make NIFTY charts strong, which would help it rally further in the days to come. If the momentum helps it could be tested today itself." - Quote from friday's post. NIFTY moves as per the expectation.
World markets trend helps NIFTY to stay bullish with good technical pattern. A medium term target around 4550 could be achieved with ease, provided the momentum helps.
4183 - immediate support. Immediate resistance - 4320.
Friday, September 19, 2008
Sep 19,2008
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NIFTY closes at 4038.15. Sensex closes at 13315.60.
NIFTY could not break below 3800. A surge after the formation of new low would make charts strong. But the reality bites.
A high above 4237 would make NIFTY charts strong, which would help it rally further in the days to come. If the momentum helps it could be tested today itself. World markets signals bullishness in short term.
3800 immediate support.
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NIFTY closes at 4038.15. Sensex closes at 13315.60.
NIFTY could not break below 3800. A surge after the formation of new low would make charts strong. But the reality bites.
A high above 4237 would make NIFTY charts strong, which would help it rally further in the days to come. If the momentum helps it could be tested today itself. World markets signals bullishness in short term.
3800 immediate support.
Thursday, September 18, 2008
Sep 18,2008
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NIFTY closes at 4008.25. Sensex closes at 13262.90.
NIFTY moves as per our expectation. A new low could be expected today.
Nifty chart is not looking good. At least, a high above 4237 is required, if NIFTY has to reverse the trend in short term. Expect 4096 getting tested in short term.
3913 - immediate support.
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NIFTY closes at 4008.25. Sensex closes at 13262.90.
NIFTY moves as per our expectation. A new low could be expected today.
Nifty chart is not looking good. At least, a high above 4237 is required, if NIFTY has to reverse the trend in short term. Expect 4096 getting tested in short term.
3913 - immediate support.
Wednesday, September 17, 2008
Sep 17,2008
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NIFTY closes at 4074.90. Sensex closes at 13518.80.
Nifty chart is not looking good. We prefer previous low(3790) getting tested in medium term. At least, a high above 4237 is required, if NIFTY has to reverse the trend in short term. Expect 4096 getting tested in short term.
3913 - immediate support.
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NIFTY closes at 4074.90. Sensex closes at 13518.80.
Nifty chart is not looking good. We prefer previous low(3790) getting tested in medium term. At least, a high above 4237 is required, if NIFTY has to reverse the trend in short term. Expect 4096 getting tested in short term.
3913 - immediate support.
Tuesday, September 16, 2008
Monday, September 15, 2008
Sep 15,2008
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NIFTY closes at 4228.45. Sensex closes at 14000.81.
Below 4200, 4159 may be a recognised support. We mentioned a medium term target around 4170 for NIFTY. It might be tested on bearishness.
4133.70 is the next support levels. Lehman Bros. likely to file bankruptcy. It is not a good news. But crude oil below $100 looks nice.
OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.
Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.
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NIFTY closes at 4228.45. Sensex closes at 14000.81.
Below 4200, 4159 may be a recognised support. We mentioned a medium term target around 4170 for NIFTY. It might be tested on bearishness.
4133.70 is the next support levels. Lehman Bros. likely to file bankruptcy. It is not a good news. But crude oil below $100 looks nice.
OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.
Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.
Friday, September 12, 2008
Sep 12,2008
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NIFTY closes at 4290.30. Sensex closes at 14324.29.
Market is in consolidation phase. Nothing significant has happened yet to suggest a move out of this consolidating phase. World market trends may help NIFTY to move down today.
4133.70 is the next support levels. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.
OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.
Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.
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NIFTY closes at 4290.30. Sensex closes at 14324.29.
Market is in consolidation phase. Nothing significant has happened yet to suggest a move out of this consolidating phase. World market trends may help NIFTY to move down today.
4133.70 is the next support levels. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.
OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.
Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.
Thursday, September 11, 2008
Wednesday, September 10, 2008
Sep 10,2008
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NIFTY closes at 4468.70. Sensex closes at 14900.76.
Market is in consolidation phase. Nothing significant has happened yet to suggest a move out of this consolidating phase. World market trends may help NIFTY to move down today.
4281 is the next support levels. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.
TCS chart looks good. Medium to long term target 990+.
OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.
Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.
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NIFTY closes at 4468.70. Sensex closes at 14900.76.
Market is in consolidation phase. Nothing significant has happened yet to suggest a move out of this consolidating phase. World market trends may help NIFTY to move down today.
4281 is the next support levels. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.
TCS chart looks good. Medium to long term target 990+.
OPEC President Chakib Khelil, called on members to stop producing more than the group's quota - 28.8 million barrels limit - after prices plummeted to (around) $100 per barrel. Current production level is 520,000 barrels.
Stay cautious on the crude front. Don't be too much euphoric on the fall of crude prices.
Tuesday, September 09, 2008
Sep 09,2008
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NIFTY closes at 4482.30. Sensex closes at 14944.97.
NIFTY did test a high above 4522.40 as we mentioned in previous post. 4466,4281 are the next support levels. First support likely to get broken, if the market follows asian market trends. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.
If positive momentum continues, NIFTY could even test 5130+ levels in medium term.
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NIFTY closes at 4482.30. Sensex closes at 14944.97.
NIFTY did test a high above 4522.40 as we mentioned in previous post. 4466,4281 are the next support levels. First support likely to get broken, if the market follows asian market trends. NIFTY has to pierce 4573 to 4590 resistance level if it has to move up.
If positive momentum continues, NIFTY could even test 5130+ levels in medium term.
Monday, September 08, 2008
Sep 08,2008
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NIFTY closes at 4352.30. Sensex closes at 14483.83.
NSG approval euphoria plus world market trends would help NIFTY to surge with good momentum.
4460 to 4470,4533+, 4573 to 4590 will be the next resistance levels on the upperside. 4522.40 would be retested in short to medium term. If positive momentum continues, NIFTY could even test 5130+ levels in medium term.
4281 are the next support levels.
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NIFTY closes at 4352.30. Sensex closes at 14483.83.
NSG approval euphoria plus world market trends would help NIFTY to surge with good momentum.
4460 to 4470,4533+, 4573 to 4590 will be the next resistance levels on the upperside. 4522.40 would be retested in short to medium term. If positive momentum continues, NIFTY could even test 5130+ levels in medium term.
4281 are the next support levels.
Friday, September 05, 2008
Sep 05,2008
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NIFTY closes at 4447.75. Sensex closes at 14899.10.
Bullish momentum fails to sustain. International markets trend may pull the nifty down inspite of good inflation figure.
4533+, 4573 to 4590 will be the next resistance levels on the upperside. 4522.40 would be retested in short to medium term. If positive momentum continues, NIFTY could even test 5130+ levels in medium term.
4457 and 4281 are the next support levels.
Consistent bearishness might bring down nifty to 4175 levels in medium term.
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NIFTY closes at 4447.75. Sensex closes at 14899.10.
Bullish momentum fails to sustain. International markets trend may pull the nifty down inspite of good inflation figure.
4533+, 4573 to 4590 will be the next resistance levels on the upperside. 4522.40 would be retested in short to medium term. If positive momentum continues, NIFTY could even test 5130+ levels in medium term.
4457 and 4281 are the next support levels.
Consistent bearishness might bring down nifty to 4175 levels in medium term.
Wednesday, September 03, 2008
Sep 03,2008
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NIFTY closes at 4504.00. Sensex closes at 15049.86.
"If there is a bullish momentum, NIFTY could test a range around 4450." - quote from yesterday's post. Crude triggered a bullish momentum yesterday, helping NIFTY to move up. It even surpassed the target we mentioned to move up to next resistance level.
4533+, 4573 to 4590 will be the next resistance levels on the upperside. Chart patterns looks good. Yesterday's high 4522.40 would be retested. If this positive momentum continues, NIFTY could even test 5130+ levels in medium term.
4457 and 4281 are the next support levels.
If there is a bearish onslaught 4175 is possible on the lower side in medium term.
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NIFTY closes at 4504.00. Sensex closes at 15049.86.
"If there is a bullish momentum, NIFTY could test a range around 4450." - quote from yesterday's post. Crude triggered a bullish momentum yesterday, helping NIFTY to move up. It even surpassed the target we mentioned to move up to next resistance level.
4533+, 4573 to 4590 will be the next resistance levels on the upperside. Chart patterns looks good. Yesterday's high 4522.40 would be retested. If this positive momentum continues, NIFTY could even test 5130+ levels in medium term.
4457 and 4281 are the next support levels.
If there is a bearish onslaught 4175 is possible on the lower side in medium term.
Tuesday, September 02, 2008
Sep 02,2008
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NIFTY closes at 4348.65. Sensex closes at 14498.51.
NIFTY stays trendless. A high above 4365 may help upward momentum. 4280 is the support level.
If there is a bullish momentum, NIFTY could test a range around 4450. If there is a bearishness 4175 is possible on the lower side. These levels are medium term targets.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.
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NIFTY closes at 4348.65. Sensex closes at 14498.51.
NIFTY stays trendless. A high above 4365 may help upward momentum. 4280 is the support level.
If there is a bullish momentum, NIFTY could test a range around 4450. If there is a bearishness 4175 is possible on the lower side. These levels are medium term targets.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.
Monday, September 01, 2008
Sep 01,2008
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NIFTY closes at 4360.00. Sensex closes at 14564.53.
We quoted, "Short to medium term target is a high above 4364." in friday post. NIFTY tested this target in a single day. Now there is no indication of any trend.
International markets are weak. NIFTY might just follow the same. If there is a bullish momentum, NIFTY could test a range around 4450. If there is a bearishness 4175 is possible on the lower side. These levels are medium term targets.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside. 4320 is the initial support level.
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NIFTY closes at 4360.00. Sensex closes at 14564.53.
We quoted, "Short to medium term target is a high above 4364." in friday post. NIFTY tested this target in a single day. Now there is no indication of any trend.
International markets are weak. NIFTY might just follow the same. If there is a bullish momentum, NIFTY could test a range around 4450. If there is a bearishness 4175 is possible on the lower side. These levels are medium term targets.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside. 4320 is the initial support level.