NIFTY TRENDS

March 4, 2011

FROM THE RESEARCH DESK!!!! VERY SHORT TERM VIEW: MAJOR RESISTANCE AROUND 5630 LEVELS
Nifty today opened gap up following the better global cues and then consolidating in a short range of around 60 points. Nifty is likely to trade in the range and if it breaches this range on either side then we may see fast momentum on that side. Technically Nifty has immediate support at 5460 levels; if it breaches these levels then some selling pressure could be seen towards 5400 levels which is the next support to the market. Whereas on upside Nifty has stiff resistance at around 5630 levels which is the 200DMA. Market is witnessing buying interest in Auto, Banking and IT sector stocks. Whereas marginal selling is seen only in Capital Goods and FMCG sector stocks. TRIGGER LEVLES

Strategy to be adopted: Be Stock Specific.

Advances outnumbered Declines in the trades. 788 shares advanced in numbers and 716 shares declined whereas 112 shares remained unchanged on NSE (By 1:45 PM). European markets opened flat to positive.

Short Term Positive Above: Nifty short term trend is

negative till the time it remains below psychological 5600 levels. The reversal of the short term negative trend could be seen above these levels.

NIFTY SPOT HOURLY CHART (FOR VERY SHORT TERM VIEW: 1-2 DAYS)

Anand Rathi

Research

NIFTY TRENDS
March 4, 2011

FROM THE RESEARCH DESK!!!!

NIFTY SPOT DAILY CHART (FOR SHORT TERM VIEW: 2-7 DAYS)

Guide for short term Traders :

SHORT TERM TREND : 2-7 DAYS SUPPORT NIFTY 5200 RESISTANCE 5620-5650 MEDIUM TERM TREND : 2-8 WEEKS SUPPORT NIFTY 5050 RESISTANCE 5800

Guide for positional Traders :

IMP. NOTE : The levels mentioned are looking into daily and weekly charts, which may get trigger intraday but one has to see that trigger levels are hold for sometime in case of very short term 15-20 minutes, whereas in short term look for one hour or in case of low volumes look for closing levels. The purpose of report is to give a broad view and make easy to take positional calls, however dynamism is nature of market so sometimes intraday calls may differ from the trigger levels given in the report which should be understood in the right spirit. Being arrogant could be the best enemy in the market.
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Anand Rathi

Research