As on 23.02.2010

#1
by stockdunia

nifty as on 23.02.2010

budget is coming soon, normally nifty will consolidate here and closed in such a position where from nifty may make or brek.as on 23.02.2010 we have to close eye on open=high and open =low of nifty.why, we will explain below.

Trend-

nifty trend decider point 4845, below it nifty will take down trend and above which nifty try to up move.

Understand market very carefully-

for up move

1. Nifty must open= low.
2. Nifty will not break 4845 level.
3. Resistance 4880- 4887 zone.trade above it you will get first
symptom that market try to go higher
4. Next resistance 4911-4922 zone, where from selling/profit
booking expected.
5. Mind it, for confirmation nifty must close above 4952 levels
for 2 days.

For down move

1. Nifty must open= high.
2. Nifty will break 4845 level.
3. Suport 4826 and 4805 zone.trade below it you will get first
symptom that market try to go lower
4. Next support 4783 zone, where from some sort of bounce back
expected
5. Mind it, for confirmation nifty must close below 4748 levels
for 2 days.

Summery-

unless above 4845 buying interest intact and we have to buy and book profit at resistance zone.unless trade above 4952 we will book our profit and dont carry any fresh position.on dips we will buy at our supports zone keeping 4848 as stop loss and below it we will not try to buy on dips.

Stock in action

inoxleisur

as on 22.02.2010 the stock showed good movement.we have informed you earlier that stock is in news and still has some provision to go up.good supports around 77 and 73 levels.on dips you may buy this stock and book profit around our resistance levels.resistance comes 80 and 82 levels.

Trade above 82 levels with volume the stock can retest 88-86 zone again and only above 93 fresh up move.
 

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