Free Tips Nifty

Nifty Intraday Status
Today weekly chart, in the short term if nifty sustains above 5050, levels of 5065/5095 could be expected on the upside. The downside support can be expected at 4980, on breaking 4980 levels 4940/4910 can be seen. The overall direction of the market is likely to remain weak as NIFTY has given a breakdown from the important trend-line support of 5430/5440 on both daily and weekly chart. Monthly chart, according to rising demand line (Joining from the lows of Aug 2009 (4353.46) to the low of May2011 (5328.71), breakout of 5480/5490 levels would indicate selling pressure. Any move beyond 5480/5490 level on monthly basis.

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Nifty Intraday Tips
The yesterday Nifty opened lower reacting to the S&P downgrade of EU nations. Nifty futures had hit a low of 4,835.25 in the morning session and it was seen trading off the lows after the announcement of inflation data for the month of December. It had hit a high of 4,899.70 in the noon session as market participants expected some kind of monetary easing from the RBI in its first policy meet of the year 2012 on Jan 24th. WPI inflation for the month of December 2011 came at 7.47% which is considerably lesser than the 9.11% for the same period a year ago 2011.

The Index heavy weights INFY and TCS were up by around 2% as TCS is set to announce its quarterly results today. SBI was up by around 3% as the Bank's chairman confirmed yesterday that the Government is set to infuse Rs.6000-8000 crores into the bank by March 31st and the infusion will be done through preferential allotment of equity by the bank to the Government. In another news, SBI is expected to raise the interest on its car loans by half a percent from today.

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Today Nifty Tips Says market continued to trade lower amid volatility, led by fall in oil & gas, metals and auto (barring Maruti) stocks. SBI, HDFC Bank and L&T too were under pressure.

Asian markets were down 0.5-1.5%, following a series of downgrades in eurozone by the rating agency S&P. Back home, the Sensex was down 105 points at 16,050.12 and the Nifty dropped 36 points to 4,829.86.

Due to negative global cues coming in, CNBC-TV18 that traders should remain cautious today.

Index heavyweights Reliance Industries and L&T were down over 1.5%; ONGC slipped 0.6%. Among banks and financials, SBI, HDFC and HDFC Bank fell 1-2% while ICICI Bank gained 0.4%.

In the auto space, Tata Motors, M&M, Bajaj Auto and Hero Motocorp went down 0.7-1.8% while Maruti rallied 1.5%.

Among metals, Jindal Steel, Hindalco, Tata Steel and Sterlite Industries declined 0.7-1.6%.

However, technology stocks bucked the trend; Infosys and TCS were up around 1%. Shares of telecom major Bharti Airtel rose 1.2% and Cigarette major ITC went up 0.5%.

The market breadth was neutral.

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Today Free Nifty Tips the weekly chart, in the short term if nifty sustains above 4800, levels of 4840/4910 could be expected on the upside. The downside support can be expected at 4705, on breaking 4690 levels 4600/4560 can be seen The overall direction of the market is likely to remain weak as NIFTY has given a breakdown from the important trend-line support of 5430/5440 on both daily and weekly chart. The monthly chart, according to rising demand line (Joining from the lows of Aug 2009 (4353.45) to the low of May2011 (5328.70), breakout of 5480/5490 levels would indicate selling pressure. Move beyond 5480/5490 level on monthly basis.

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Today Free intraday tips weekly chart, in the short term if nifty sustains above 4800, levels of 4840/4910 could be expected on the upside. But on the downside support can be expected at 4705, on breaking 4690 levels 4600/4560 can be seen The overall direction of the market is likely to remain weak as NIFTY has given a breakdown from the important trend-line support of 5430/5440 on both daily and weekly chart. On monthly chart, according to rising demand line (Joining from the lows of Aug 2009 (4353.45) to the low of May2011 (5328.70), breakout of 5480/5490 levels would indicate selling pressure. Any move beyond 5480/5490 level on monthly basis would only negate the bearish view.

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Today the weekly chart, in the short term if nifty trading sustains above 4800, levels of 4840/4910 could be expected on the upside. But the downside support can be expected at 4705, on breaking 4690 levels 4600/4560 can be seen The overall direction of the market is likely to remain weak as NIFTY has given a breakdown from the important trend-line support of 5430/5440 on both daily and weekly chart. Monthly chart, according to rising demand line (Joining from the lows of Aug 2009 (4353.45) to the low of May2011 (5328.70), breakout of 5480/5490 levels would indicate selling pressure. In this any move beyond 5480/5490 level on monthly basis would only negate the bearish view.

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Today Technical View

The chart, in short term if Nifty sustains above 4750, levels of 4840/4910 could be expected on the upside. The downside support can be expected at 4630, on breaking 4630 levels 4600/4560 can be seen. Overall direction of the market is likely to remain weak as Nifty has given a breakdown from the important trend-line support of 5430/5440 on both daily and weekly chart. On monthly chart, according to rising demand line (Joining from the lows of Aug 2009 (4353.45) to the low of May2011 (5328.70), breakout of 5480/5490 levels would indicate selling pressure. Any move beyond 5480/5490 level on monthly basis would only negate the bearish view.

Free Tips Nifty offer quality stock advisory services in nifty tips, nifty trading tips, live nifty options, nifty intraday tips, free nifty future tips, intraday nifty tips and many more.We offer online tips about all these services.

The weekly chart, In short term if nifty trading sustains above 4750, levels of 4840/4910 could be expected on the upside. The downside support can be expected at 4630, on breaking 4630levels 4600/4560 can be seen The overall direction of the market is likely to remain weak as NIFTY has given a breakdown from the important trend line support of 5430/5440 on both daily and weekly chart. The monthly chart, according to rising demand line (Joining from the lows of Aug 2009 (4353.45) to the low of May2011 (5328.70), breakout of 5480/5490 levels would indicate selling pressure. Any move beyond 5480/5490 level on monthly basis would only negate the bearish view.

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