[sharetrading] Market Review for 27 Jan 2010

 

Market Review for 27 Jan 2010

Nifty has closed in red for the fifth repeated day now with stocks just sliding on their way down. The selling pressure continued on every rise, indicating that the trend has reversed and bears have an upper hand. The volumes that were missing at higher levels have returned with the index going down, confirming the downtrend. The momentum is too favors bears. With these indicators and prices are coming down, there is hardly any upside seen from here. On the daily chart, Nifty is trading below its 20 daily moving average (DMA) which is 5204 and 40 daily exponential moving average (DEMA) at 5134, which are the resistances in the near term.

Nifty Support Levels For 27 Jan 2010

Nifty Resistance Levels For 27 Jan 2010

Day Trading Tips For 27 Jan 2010

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With Regards,
Kushagra Mehta
http://www.daytrading.in/

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