Stock Market View For The Week 20/01/2014 to 24/01/2014


posted by Paritosh on Sat Jan 18, 2014 02:23 pm

#1

Weekly View:

In my last view when Nifty had closed at 6314 levels, had clearly told to be cautious at your longs as we may see correction in coming days and exactly we saw a correction in Nifty where it made a low around 6140 levels and from there again bounced and gave a weekly closing at 6262 last week.

Now for the coming week again we will witness selling pressure on higher sides around 6300-6340 levels as this range have now become a strong resistance zone and for any breakout of this range Nifty will either have to consolidate or will have to correct.

Further, the option data as of now is suggesting that bears are strong at 6300 levels and dont seem to allow Nifty to cross and close above said levels while on the downside bulls are in full mood to get charged at 6200 levels.

So we may see sideways trading in coming week in the range of 6180-6320 levels.

Weekly support and resistance range are as follows:-

Support @ 6245-6180-6135
Resistance @ 6280-6320-6345

Weekly Levels:

Nifty:

Remain long above 6260 with SL @ 6235 and target of 6290-6310-6340
Remain short below 6230 with SL@6255 and target of 6210-6190-6170

L&T:

Remain long above 1002 with SL @ 995 for a target of 1012-1018-1024
Remain short below 991 with SL @ 997 for a target of 982-975-968

Happy Trading....... 

posted by mohandass on Sun Jan 19, 2014 09:12 am

#2

Dear ji,

Thanks for your Nifty View.

your calls are very fast reacting in Day trading.

keep this  ji.

posted by Paritosh on Tue Jan 21, 2014 10:53 am

#3

LNT till now made a high of 1017 i.e. near to second target of 1018 ..........

Nifty second target of 6310 done

posted by Paritosh on Thu Jan 23, 2014 11:54 am

#4

LNT :- all targets on upside till 1024 done .. today trading around 1035

posted by Paritosh on Thu Jan 23, 2014 11:55 am

#5

Nifty :- all targets on upside till 6340 done ... 



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