NIFTY LEVELS(21-OCT-2011)

 NIFTY LEVELS FOR TODAY:

The logical target for today's nifty market could be 5179. In forthcoming session our stock market may witness some range bound movements. As the first resistance level for nifty would be 5124 and than the second level for nifty resistance can seen at the mark of 5179. In these movements in for the stock market we can see the first support level 5091 and the below support level would be predicted at the mark at 5037.

NIFTY MARKET OVERVIEW

Nifty closed on a very dull note and made significant loss. Nifty formed a big bearish candle and lost some of its vital supports, regained yesterday. Chart wise, it is a bearish engulfing pattern that signifies about surging strength of the bears in our market. Nifty has lost its sentimental support level of 5100. Owing to big ticket selling in large caps, small cap and midcap, Bears outnumbers the bulls and because of this, Indices again closed with negative market breadth. In today’s session, Nifty not only closed weak, yet, maintained its closing above the vital supports of 9, 14 & 50 day’s SMA placed at 5072, 4990 &4999 but closed below 100day’s SMA placed at 5258. These levels may be the new ranges in forthcoming sessions. In today’s session, VIX, the barometer of uncertainty, rose and closed at a modestly low level of 25.60, indicating a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 54.01 levels and MACD closed above the signal line, thus combined together they are giving the signals that; market may continue to witness  some range bound movements in forthcoming session.

NIFTY LEVELS FOR TOMORROW

Free Sure shot stock tips for tomorrow

SHORT SBIN FUTURE BELOW 1870 TGT 1850 & 1830 SL-1892

Nifty market overview: 

Nifty closed on a weak note and made significant cut. Nifty formed a big bearish candle and lost some of its vital supports. After a gap down  opening, Nifty failed to recover and slipped further. Nifty lost its  sentimental  support level of 5100 and 5050. Owing to big ticket selling in large caps and midcap, Bulls yielded to the bears and because of this, Indices closed with negative market breadth. In today’s session, Nifty though closed weak, yet, maintained its closing above the vital supports of 9,14 & 50 day’s SMA placed at 5006,4970 &5005 but closed below 100day’s SMA placed at 5265. These levels may be the new ranges in forthcoming sessions. Latent buying was not evident in any of the segments; this may be a  reason to worry for coming sessions. VIX, the barometer of uncertainty, though corrected and closed at a modestly low level of 25.90, indicating lesser than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 51.73 levels and MACD closed above the signal line, thus combined together they are giving the signals that; market may continue to witness  some range bound movements in forthcoming session.

Nifty Level for tomorrow's market:

The resistance level for nifty should be bound between 5081-5121 and the support level for tomorrow's market should be 5010-4959.

MARKET TODAY : NIFTY LEVELS

Making four weak candles continuously, today Nifty withstood  against selling  pressures further and closed on green note. Nifty formed a big bullish candle, which needs to be  confirmed by next session’s movement to have any indications about possible reversal.  After a  positive opening, Nifty successfully held onto its gain and regained its sentimental level of 4880.  Inline to a good show, Bulls managed to prove their supremacy over bears to regain the full control of  the market and because of this, Indices closed with positive market breadth. In today’s session, Nifty  not only regained  its vital support of 4880 but also closed above the vital supports of 9 day’s SMA  placed at 4886. Despite a good bounce, Nifty closed below  14, 50 & 100day’s SMA placed at  4934,5066and 5290. These levels may be the new ranges in forthcoming sessions. Buying was evident  in Large Caps, small cap & mid cap and most of the Sectoral indices too closed on firm note. In  today’s session, VIX, the barometer of uncertainty, though corrected yet  closed at a very high level  of 33.02, indicating a more than average volatility in market in the forthcoming sessions. RSI (14) for  the session was at 45.59 levels and MACD closed below the signal line, thus combined together they  are giving the signals that; market may continue to witness  consolidation in forthcoming session.

Nifty Level

Resistance 1  - 4953

Resistance 2  - 5044

Support 1 - 4822

Support 2  - 4776

LIVE NIFTY MARKET MARKET TIPS FOR TOMORROW

After making a weak candle in last session, today Nifty exhibited its weakness further and  closed on red note. Thus three bearish signals continuously, which denotes a short term weakness in our markets.  Nifty failed in originating any recovery rally and thus lost its sentimental level of 4800. Inline to a weak show, Bears maintained their supremacy over bulls to regain the full control of the market and because of this, Indices closed with negative market breadth. In today’s session, Nifty not only lost its vital supports of 4800 and 4860 but also closed below the vital supports of 9 & 14day’s SMA placed at 4903 and 4971.  50 &100 day’s SMA levels were recorded at 5099 & 5304 levels, i.e. above the Nifty closing; these may be the resistances in forthcoming sessions. Selling was evident in Large Caps, small cap & mid cap and most of the Sectoral indices too closed on weak note. In today’s session, VIX, the barometer of uncertainty, closed at a very high level of 37.19, but it still indicates a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 37.04 levels and MACD closed below the signal line, thus combined together they are giving the signals that; market may continue to witness  consolidation in forthcoming session.

Nifty level for tomorrow Live Nifty Market :

Resistance 1-4827

Resistance 2-4853

Support 1-4721

Support 2-4704