Nifty view

Nifty opens above 5246and breaks 5276 and closes above this level then we will see a move to north...if it opens below 5226 and breaks 5196 and closes below this level for the day..then we will see the bears taking chage---disclimer .please take a insurance policy when you enter the market..if you are eaten by the bear and run over by a bull..you will have something to fall back.

ya ! to add to it, 5350 is a major resistance

Today you can see one more weak day in the chart bellow. The two black lines(3 & 4) in the chart are showing divergence between price & indicator. This indicates sharper down move in future. Expecting more than 2 to 5 % move in next few days. This brings 5600 & 5230 levels on Nifty in picture. Sentiment will remain bullish as long as nifty is holding 5360. 5460 & 5620 levels are possible targets for Nifty on Upside. Moderate to hight risk in fresh long term (1 to 3 years) investment.

Market Technicals
Market Breadth: 1.60
Nifty Trends : Short term trend is up. Intermediate trend is UP.
Nifty Trend Reversal Point : 5360
Nifty Support levels are 5355 , 5300 , 5280 , 5250 , 5180 , 5150
Nifty Resistance levels are 5400 , 5460 , 5530 , 5650.

Nifty Future Daily trading levels

Trading as per the support and resistance levels may be quite useful for intraday trading in stocks and index. Resistance is termed as the level where the stock generally gets some opposite force before it can go further up. A support is the level where a stock get buying interest before it can fall further. Under the normal market conditions or in the absence of some extremely panic news the support and the resistance levels can act as good levels for initiating the buying / selling. In general it’s advisable to buy the stocks at support levels and sell at the resistance levels. In Intraday trading there are few support and resistance levels known as Support1 Support2, Resistance1 Resistance2 etc.

The support and the resistance levels for Nifty can be seen in the table below.

Nifty Levels in simple format can be seen as follow

Pivot Level = 5375
Support1 = 5338
Resistance1 = 5400
Support2 = 5313
Resistance2 = 5437
Support3 = 5276
Resistance3 = 5462