Nifty Sheds Credence and Intraday Tips
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Kiran Kumar Reddy
Mar 7, 2014, 1:20:03 PM3/7/14
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Article Title: Nifty Sheds Credence and Intraday Tips
Author: Kiran Kumar Reddy
Word Count: 641
Article URL: http://www.isnare.com/?aid=1885541&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1885541
Easy Publish Tool: http://www.isnare.com/html.php?aid=1885541
*********************** ARTICLE START ***********************
Indian stocks fallen today a snap of five-day winning smudge as shares of blue chips such as ICICI Bank declined as part of an emerging markets retreat over fears of military tensions sandwiched between Russia and Ukraine. The Bombay Stock Exchange Sensex closes at 20947 were down by 174 points or fallen 0.82 percent. Bse Mid cap index closing flat with a positive bias and the Bse Small Cap Index were slipped by 0.3 percent and BSE benchmark index which was down 1 percent on today Day Intraday Trade Closes.
Sensex Major Resistance on Upside at 2108521223-21361
Sensex Major Support on Downside at 20866-20785-20647
Trend Deciding Level at 21004
Nifty Index Major Resistance on Upside at 6264-6305-6346
Nifty Index Major Support on Downside at 6198-6173-6132
Trend Deciding Level at 6239
Major Headlines
Allahabad Bank raises base rate, BPLR by 5 bps w.e.f March 4
Brigade Enterprises launches retirement Homes Parkside project in Bangalore
AstraZeneca Pharma board to mull parent's delisting offer on March 5
BHEL block deal: 11.4 cr shares exchanged on BSE at Rs 167.20/share
Asian Paints block deal: 18.5 lakh shares exchanged on BSE at Rs 471.50/share
Larsen and Toubro wins Rs 1,550 cr order for Oman road project
Coal India's February production at 42.56 mt Vs target of 45.41 mt
Power Grid Corp board approves investments worth Rs 575 cr
Ramco Systems, Malaysia Airlines ink IT Solutions deal
Indian Indices
The Nse Nifty Index closed in the negative note today, were down by 55 points and closes at 6221. In excess of the next couple of days it is expected to trend is up till 6300. In this period the key support will be at 6155 and resistance will be at 6300.
The Nifty has been forming higher tops and higher bottoms of late. It has also closed above the crucial retracement level, ie 6265, which is a positive sign for the market
In the daily chart the index is trading above the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6104 and 6155 correspondingly. The momentum pointer is trading in positive mode.
In the hourly chart, the Nse Nifty is trading around the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6242 and 6209 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned negative. The market duration was turned negative mode today with 587 advances and 836 declines on the National Stock Exchange.
Nifty Future Major Resistance on Upside at 6277-6318-6358
Nifty Future Major Support on Downside is at 6212-6188-6147
Trend Deciding Level at 6253
Bank Nifty Major Resistance on Upside at 10799-10958-11117
Bank Nifty Major Support on Downside at 10546-10452-10293
Trend Deciding Level is at 10705
5 Daily Moving Average @ 6224
50 Daily Moving Average @ 6184
200 Daily Moving Average @ 5984
5 Days Relative Strength Index @ 60 and 14 Days Relative Strength Index @ 56 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.
Global Trends
Gold Trading Around 1350-1347
US Dollar Index Trading Above 81-79.91
Nymex Crude Trading Above 100-104.14
DOW Future Trading with 119 points loss on Monday Intraday Trade
Mild Red Global Trend Seen
Intraday Tips
Buy Nifty Fut March Intraday above 6270 sl 6245 Tgt 6290-6315 {Or} Sell Below 6220 sl 6245 Tgt 6200-6175
Buy Bank Nifty March Intraday above 10700 sl 10650 Tgt 10750-10800 {Or} Sell below 10600 sl 10650 Tgt 10550-10500
Curious Fact
Sri Ranganathaswamy Temple, Srirangam in Tamilnadu state is the largest functioning Hindu temple in the world. This temple occupies an area of 156 acres, making it the largest temple in India
Article Source: http://www.charanwings.com/blog/post/Nifty-Sheds-Credence-and-Intraday-Tips
About The Author: Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij.in) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1885541
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*****************************************************************
Please consider this free-reprint article written by:
Kiran Kumar Reddy
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1885541
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1885541
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Nifty Sheds Credence and Intraday Tips
Author: Kiran Kumar Reddy
Word Count: 641
Article URL: http://www.isnare.com/?aid=1885541&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1885541
Easy Publish Tool: http://www.isnare.com/html.php?aid=1885541
*********************** ARTICLE START ***********************
Indian stocks fallen today a snap of five-day winning smudge as shares of blue chips such as ICICI Bank declined as part of an emerging markets retreat over fears of military tensions sandwiched between Russia and Ukraine. The Bombay Stock Exchange Sensex closes at 20947 were down by 174 points or fallen 0.82 percent. Bse Mid cap index closing flat with a positive bias and the Bse Small Cap Index were slipped by 0.3 percent and BSE benchmark index which was down 1 percent on today Day Intraday Trade Closes.
Sensex Major Resistance on Upside at 2108521223-21361
Sensex Major Support on Downside at 20866-20785-20647
Trend Deciding Level at 21004
Nifty Index Major Resistance on Upside at 6264-6305-6346
Nifty Index Major Support on Downside at 6198-6173-6132
Trend Deciding Level at 6239
Major Headlines
Allahabad Bank raises base rate, BPLR by 5 bps w.e.f March 4
Brigade Enterprises launches retirement Homes Parkside project in Bangalore
AstraZeneca Pharma board to mull parent's delisting offer on March 5
BHEL block deal: 11.4 cr shares exchanged on BSE at Rs 167.20/share
Asian Paints block deal: 18.5 lakh shares exchanged on BSE at Rs 471.50/share
Larsen and Toubro wins Rs 1,550 cr order for Oman road project
Coal India's February production at 42.56 mt Vs target of 45.41 mt
Power Grid Corp board approves investments worth Rs 575 cr
Ramco Systems, Malaysia Airlines ink IT Solutions deal
Indian Indices
The Nse Nifty Index closed in the negative note today, were down by 55 points and closes at 6221. In excess of the next couple of days it is expected to trend is up till 6300. In this period the key support will be at 6155 and resistance will be at 6300.
The Nifty has been forming higher tops and higher bottoms of late. It has also closed above the crucial retracement level, ie 6265, which is a positive sign for the market
In the daily chart the index is trading above the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6104 and 6155 correspondingly. The momentum pointer is trading in positive mode.
In the hourly chart, the Nse Nifty is trading around the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6242 and 6209 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned negative. The market duration was turned negative mode today with 587 advances and 836 declines on the National Stock Exchange.
Nifty Future Major Resistance on Upside at 6277-6318-6358
Nifty Future Major Support on Downside is at 6212-6188-6147
Trend Deciding Level at 6253
Bank Nifty Major Resistance on Upside at 10799-10958-11117
Bank Nifty Major Support on Downside at 10546-10452-10293
Trend Deciding Level is at 10705
5 Daily Moving Average @ 6224
50 Daily Moving Average @ 6184
200 Daily Moving Average @ 5984
5 Days Relative Strength Index @ 60 and 14 Days Relative Strength Index @ 56 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.
Global Trends
Gold Trading Around 1350-1347
US Dollar Index Trading Above 81-79.91
Nymex Crude Trading Above 100-104.14
DOW Future Trading with 119 points loss on Monday Intraday Trade
Mild Red Global Trend Seen
Intraday Tips
Buy Nifty Fut March Intraday above 6270 sl 6245 Tgt 6290-6315 {Or} Sell Below 6220 sl 6245 Tgt 6200-6175
Buy Bank Nifty March Intraday above 10700 sl 10650 Tgt 10750-10800 {Or} Sell below 10600 sl 10650 Tgt 10550-10500
Curious Fact
Sri Ranganathaswamy Temple, Srirangam in Tamilnadu state is the largest functioning Hindu temple in the world. This temple occupies an area of 156 acres, making it the largest temple in India
Article Source: http://www.charanwings.com/blog/post/Nifty-Sheds-Credence-and-Intraday-Tips
About The Author: Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij.in) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1885541
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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