NIFTY Technical analysis : Wekly Show.

>> Sunday, June 14, 2009

Last week we saw volatility in the Indian stock markets. NIFTY was highly volatile.

The trend signifies NIFTY is in uptrend.
The market sentiments are positive.
Turnover have increased drastically. FII's have started buying, one positive factor which will pull up the markets in short term.

Last week NIFTY closed at 4586 and this week at 4583.4 a flat ending.
NIFTY TRIN at 1.52
NIFTY Range - Between 4420 to 4685

Current Spot - 4583.4
Support - 4495 and 4392
Resistance - 4660 and 4705
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Short term target : 4650 and 4740.

The next U turn in the markets can be seen after the forthcoming budget.

NIFTY Auto generated Technical analysis.