Stock Market View For The Week 30/12/2013 to 03/01/2014


posted by Paritosh on Sat Dec 28, 2013 01:50 pm

#1

Weekly View:

Last week we saw Nifty opening at 6267 levels from where it made a high of 6325 and a low of 6260 and managed to closed with positive bias at 6314.

For the coming week range bound trading is accepted with weekly support at 6260 and resistance at 6380 levels.

However, one should be cautious at this level in there longs as my reading of charts with some parameters indicate me that we may see some down move in coming 2-3 weeks so cautious approach should be taken at these levels.

For this week i see Nifty trading in a side ways range where first half of the week to be with positive bias and second with negative.

Support and Resistance for the week are :-

Support @ 6280-6260-6220
Resistance @ 6320-6380-6420

Weekly Levels:

Nifty :

Remain long above 6305 with stop loss @ 6275 and target of 6340 and 6360
Remains short below 6260 with stop loss @ 6290 and target of 6225 and 6195

Biocon:

Remain long above 462 with stop loss @ 457 and target of 468 and 474
Remain short below 456 with stop loss @ 462 and target of 448 and 444

Happy Trading....... 

posted by sanjay on Sat Dec 28, 2013 05:50 pm

#2

Nice Paritosh..

posted by Paritosh on Thu Jan 02, 2014 09:38 am

#3

Nifty as said above 6305 made a exact high of 6358 till now ... and levels given were 6340 and 6360

posted by Paritosh on Fri Jan 24, 2014 01:14 pm

#4

clearly told at the start of the week .. selling pressure will be witnessed on higher sides around 6300-6340 levels and exactly nifty went till 6355 and now down below 6300 and trading around 6282 ... 



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