News - Daily Nifty Technical Outlook by Finvasia in COMMUNITY CENTER - The upside should be 5920 and 5950 and not 5720 as mentioned in the thread. Confuses traders to set the ...
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04-29-2013 09:46 AM
The upside should be 5920 and 5950 and not 5720 as mentioned in the thread. Confuses traders to set the right values.
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04-30-2013 09:26 AM
NIFTY Outlook and Trading Levels for 30th April
CNX Nifty resumed its uptrend and ended the session 0.56% up at 5904.10 yesterday. The benchmark index on the lower side tested the support level at 5868, which also was the Fibonacci 61.8% retracement mark.
Nifty bounced back from the support level and on the upside tested the resistance near 5920 mark, retreated but managed to close above 5900. The index is following strong uptrend since two weeks with running corrections; however if it breaks the 5868 levels on the downside, we might see some bearishness in the sentiments.
The 50 share index if breaks the immediate resistance of 5920 may test the major resistance near 5960 levels. If the global sentiments dent, we might see the index languishing on the downside with immediate support at 5868 and second support at 5794.12.
Source: Finvasia Research
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05-02-2013 09:30 AM
NIFTY Outlook and Trading Levels for 2nd May
After witnessing a volatile trading session, Nifty 50 closed 0.44% up at 5930.10. The Index opened near the major resistance level of 5960 but unable to rally above that and dropped.
On the downside it tested the major support of 5968 and rebounded. The Nifty 50 has the major resistance at 5950 levels and if it breaks that we might see it moving towards 6030 levels as the bulls will have an upper hand.
The index on the downside has the major support at 5868 and if some bearishness comes, we might see it testing 5794 levels.
Source: Finvasia Research
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05-03-2013 09:48 AM
NIFTY Outlook and Trading Levels for 3rd May
Nifty Fifty broke the resistance level of 5960 and rallied above the key level of 6000. Nifty unable to sustain above 6000 closed just below at 5999.35.
After the breaking of major resistance level, next level to be watched is 6038 and breaking of that could lead Nifty to enter the resistance zone around 6080 to 6100 levels.
If Nifty retreats from here can face the major support now at 5960 and further if it breaks the 5868 levels, we expect the weakness to emerge and Nifty to enter in bear market.
Source: Finvasia Research
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05-06-2013 10:22 AM
NIFTY Outlook and Trading Levels for 6th May
The CNX Nifty closed near its day’s low and below the key support level of 5950 at 5944. Nifty if breaks the 5950 level; we might see it resuming the uptrend.
Further resistance of the index lies near the 6040 levels. On the downside if Nifty continues its falling trend, it can test its first support at 5868 and busting over that, we expect a bearish market as weakness will prevail and might take Nifty towards the second support at 5794.
Source: Finvasia Research
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05-07-2013 11:39 AM
NIFTY Outlook and Trading Levels for 7th May
Nifty Fifty closed yesterday’s session above the key level of 5950 at 5971. The index is forming an inside candlestick pattern with narrowing range which indicates that it is the time for consolidation. After consolidating, Nifty can breakout in any direction with a decisive move.
The 50 share index if extends the rally and breaks the key level of 6000, we can see it testing the 6038 level as immediate resistance and breaking over that, we may see the index going towards 6080 to 6100 levels.
On the downside, Nifty will face the minor support at 5930 and busting below that, we may see it testing the major support at 5858. If it breaks below this level we may see bears taking over the bulls and a sell off journey to continue.
Source: Finvasia Reseach
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05-08-2013 11:23 AM
NIFTY Outlook and Trading Levels for 8th May
In yesterday's session, CNX Nifty broke the resistance of 6038 and closed 1.21% higher at 6043.55. As we discussed in our yesterday’s report that the benchmark index has formed an inside candle stick pattern which it broke today on the upside.
If the 50 share index sustains above the 6038 level, which now will act as the major support; we may see nifty rallying towards 6111.
If the index breaks below 6038 level we may see bearishness in the market and level of 5960 will act as next support.
Source:Finvasia Research
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05-09-2013 11:40 AM
NIFTY Outlook and Trading Levels for 9th May
NSE 50 yesterday broke the major resistance of 6080 but failed to sustain above that, closed 0.43% higher at 6069.39. Bulls have overtaken the market and are leading it in the uptrend.
Nifty has the major resistance at 6080 and if it breaks that decisively, we might see it heading above 6100 towards the resistance of 6112.
The benchmark index if breaks on the downside will test 6038 as the immediate support and further bearishness can take it to the 5950-5960 levels which act as major support area.
Source: Finvasia Research
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05-10-2013 09:28 AM
NIFTY Outlook and Trading Levels for 10th May
Yesterday Nifty Fifty traded between the support and resistance levels before closing at 6050.15. The benchmark index consolidated and tested the resistance near 6080 levels on the upside.
On downside Nifty tested the 6040 which was the immediate support level.
Further, if Nifty sustains above the support of 6038-6040, we will see the uptrend to continue. If the index breaks the support and moves on the downside, we might see some bearishness.
On the upside, Nifty will face its first resistance at 6080 and move above that we might see nifty moving towards YTD high at 6112.
Source: Finvasia Research
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05-13-2013 09:05 AM
NIFTY Outlook and Trading Levels for 13th May
On Saturday, CNX Nifty broke the 6100 level and closed at 6107.25.
Nifty is expected to continue its uptrend and test its immediate resistance at 6111 levels and on any crossover above that, we will see more bulls in the market which will lead it to 6180 levels.
On the downside, Nifty has its first major support at 6080 and busting below that, it may test 6038 levels.
Source: Finvasia Research
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