Nifty Technical View : 5150-5160 and 5090 strong supports.

Nifty Technical View :

Although i generally prefer to give a view on Sensex which i have been more accurate but its just that people want me to write on Nifty more so will make an attempt for the next few days.

Nifty took support exactly around the 50 dema which came around 5165. Technically 5150-5160 and 5090 are the important supports.

Also a parallel channel support can be seen around 5150. Parallel channels are generally more precise with a little longer time frame. Have earlier used it to spot LAST THREE IMPORTANT BOTTOMS.

Only a move below 5075 would change the intermediate trend.

Now for Sensex just pasting from yesterday. Technically Sensex should see a bounce from either 17300/17000 support levels.The intermediate trend remains positive till 16900 holds.

Stock Specific Chart :

Modison Metals :

Looks interesting for short term with increase in volumes.

Unusual Behavior in Indian Stock Markets:

As a daily ritual i check all the listed stocks by the eye without using any automated filters i do notice weird moves in the stock exchanges but never had the time to put it but will do so from now on. The last few observations of circular trading was before SEBI realized it

SEBI busts Stock Manipulating Network — After our article on Jaybharat Textiles/Ushdev

Just noticed a stock which has been on ckts ever since the last 15-20 mths. From 100 the stock is quoting at 6000

Check the chart below and enjoy earlier name was Duroflex Engg now it is Veritas India . But dont even think of buying or selling Just observe

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Related posts:

1. Nifty and Bank Nifty Technical View :
2. Nifty 4450-4550 and Sensex 14800-15200 are strong support zones. Buy on declines but slowly in quality stocks.
3. Sensex 17000-17300 Nifty 5120-5170 Very strong supports – Fear at a high. Selective Buying Advised.
4. Sensex 18700 and Nifty 5600 resistance. Supports at 18050/5390
5. Nifty and Bank Nifty – Technical Trading View

Tagged as: Duroflex Engg, Nifty, Nifty Technical Analysis, Nifty Technical View, Sensex Technical Analysis, Veritas India