BSE Sensex Trend Analysis 07/09/2009

Thanks for the referral Suchita.

Thanks for sharing.

Thanks Suchitra . . . 

Hi,

Japan thank for the comments...

You are aware that Nifty has made a lifetime high of 6357 in January 2008.The old investors have got stuck at every level during this massive fall of 2008. Now in current uptrend starting from March 2009, Nifty has crossed 4700 in September 2009.So technically every rise will give it hurdle. On passing beyond 4750....4800 is next target and 4600 a good support. So 4850 reistance...4650 support...so on and so forth....
Each and every up crossing in Nifty is a hurdle...as you must be aware...during this uptrend old investors will try to get out..at every nifty Reistance zone....there by realising a supply in the market.

5000 for Nifty is a crucial resistance zone....crossing that would be good...but just because it has crossed 4700..jumping to conclusion 5000 would be risky...Nifty has to pass through first all resitance areas like 4800--4965 ..and then come near 5000.
 
I hope i have answered to your satisfaction..
I would like to answer if you have any more doubts....

Suchita Ambardekar

 thanks for sharing.. as i heard,  recession is slowly moving out of the way.. may be this all could happen..

Dear Suchitra,
What would be your views not, the markets today closed at 52 weeks high... Where are the markets heading now, i have read on various blogs that if the NIFTY sustains 4750 for 2 or more days on closing levels then markets can move till 5100, else 4650..

Thanks Suchitra,
The markets are trading range bound, they are testing the highs and lows and trading within the range only, as you correctly said the NIFTY have tested 52 week high intra day but it is not sustaining that, i believe that the markets are positive today, also the global markets are positive and are back in green, the fresh rally seems positive and i believe that if the NIFTY closes above that 52 week high there are fair chances of it to move upto 5k again...

Thanks for sharing madam