NIFTY range with short term targets in line chart

NIFTY DAILY CHART

• NIFTY range 5200-5325.
• break of 5200 can take it to 5090.
• break of 5325 can take it to 5444.
• Break on either side should be on a closing basis.

BANK NIFTY Technical analysis

BANK NIFTY

• BANK NIFTY is trading near resistance line.
• rising support line should support any fall and the bullish engulfing should also support the bulls view.
• breaking the support line will bring the index down to 8000 levels.
• breaking resistance line will propel the index to 10000 levels.

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HDIL channel trading opportunity

• HDIL is trading near the bottom of the channel.
• one can go long with a stop loss of 258 for a target of 285 minimum.
• channel lower boundary should be the stop loss. The reason for this trade is the channel, If the reason is not valid don't stay in the trade.

NIFTY technical analysis for 28th april 2010

• NIFTY has broken down from the triangle formation.
• Now smart traders will look to sell on every rise. Safe trade will be to short near the 5300 area with a stop loss of 5330.

NIFTY Hour in a triangle

NIFTY HOUR CHART

• NIFTY hour has formed a triangle 
• MACD may give a buy signal this can be confirmed with the break of the trend line.
• keep 5210 as stop loss.

Nifty technical analysis for 27th april 2010

NIFTY DAILY CHART

• NIFTY showed weekness after 5 days of closing in the green
• NIFTY has formed a triangle like formation in day chart. And it looks like it will break down towards lower levels
• momentum indicator has been showing weakness for the last two days.
• NIFTY may get support at 5200-5240 region.

NIFTY technical analysis for 26th april 2010

NIFTY DAILY

• NIFTY closed above 5 ema again.
• momentum is showing some weakness to the upmove
• closing below 5300 is bearish for the short term.
• the trend line or resistance line is very clearly blocking nifty from going up. Nifty tried 4 times to go above the resistance line. 
• if we don't fall below 5300 in the opening NIFTY will try to break the resistance one more time today.

thank you