NIFTY TECHNICALS ( SPOT )

Markets does not breach 4920 & 4970(80) - closes exactly above third Resistance (5115).
Till 4920 & 4970(80) intact we may see upmove.
Support 5115, 5100, 5050(60), 5000, 4970(80), 4950, 4920, 4880 (86), 4836(46), 4798, 4720(40),.. 4640(50).
Resistance 5150, 5168.
( We have 3 holidays coming up squaring off positions for long weekend can put some pressure – caution needed for intra-day)
Happy Trading!

STOCK TECHNICALS ( SPOT )

AIRDECCAN : Up only above 134 (153 becomes Resistance) makes High 143 & closes above 134 @ 139.
HINDCONS : Up only above 128 ( 137 becomes Resistance) – Flat but above 128.
ITC : Up only above 216 ( 223 becomes Support) High 228 Close 226.2. IDFC : Up only above 171 (186 becomes Resistance) Does not go above 171 slides.
IRB : Up only above 200 ( 217-219 becomes Resistance) Reaches 209 closes at 206.
POWERGRID : Up only above 101 ( 108 becomes Resistance) Closes above 102 _ Flat
RPL : Up only above 180 ( 204-205 becomes Resistance) Closes @ 187.
TATA STEEL : Up only above 851 ( 812 becomes Support) Zooms to 902 & closes above 851 again (@881.7).
Readers who followed the points may have gained!!

Time Based Technicals

From Low of 4448.5 of 22nd Jan, 08 to
Top of 5506.6 of 5th Feb, 08 – 10 days (21 days Top to Top)
From Top of 5506.6 of 5th Feb, 08 to
Low of 4468.55 of 18th Mar, 08 - 29 days (40 days Low to Low)
From Low of 4468.55 of 18th Mar, 08 to
Top of 4970.8 of 28th Mar, 08 – 6 days (36 days Top to Top)
From Top of 4970.8 of 28th Mar, 08 to
Low of 4628.8 of 7th Apr, 08 – 7 days (13 days Low to Low)
From Low of 4628.8 of 7th April,08 to
Top of 5083.5 of 23rd Apr, 08 - 11 days (17 days Top to Top)
From Top of 5083.5 of 23rd Apr,08 to
Low of 4991.35 of 24th Apr,08 - 1 day (12 days Low to Low)
From Low of 4991.35 of 24th Apr,08 to
Top of 5298.85 of 02nd May,08 - 6 days (7 days Top to Top)
From Top of 5298.85 of 02nd May,08 to
Low of 4913.8 of 12th May,08 - 6 days (12 days Low to Low)
From Low of 4913.8 of 12th May,08 to
ongoing Top of 5118.55 of 15th May,08 - 3 day (ongoing)
SL: 4970(80)