Nifty- News Letter for 7th Jan. 13.

Market levels for nifty:

Today nifty index will have quite strong resistance at 6033. If it manages to cross 6033, it may reach 6050 and 6064 . If it Happens then bulls may take nifty to 6079 and 6095 levels.

        It can take on other side, below 5999 level, nifty may be dragged down to 5983 by bears. One can see some more action below 5967. If nifty manages to cut 5967, it may touch 5952. Support for bulls acting at 5938 level.

Sectors looking bearish

1. Metal

2. FMCG

3. Auto

Sectors looking bullish

1. IT

2. Oil&Gas

3. Power

Stock Tips For Today 

BUY Jet Airways (India) Ltd. Intraday Target 625 Stop Loss 600

SELL Reliance Communications Ltd. Short Term Target 72.00 Stop Loss 82.50

BUY IFCI Ltd. Long Term Target 78 Stop Loss 30 Last Traded at 39.15

BUY Mold-Tek Packaging Ltd. Short Term Target 65 Stop Loss 50 

BUY Idea Cellular Ltd. Short Term Target 114 Stop Loss 107

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NIFTY OUTLOOK - Market Updates for Today 21 Dec. 2012

The Nifty started to correct some time midday and I got the feeling that we might see a deeper correction, but as usual buying came in at lower levels and drove up the Nifty again. I get the feeling we need a trigger event to break past this 5,950-6,000 zone and until that does not happen we will trade sideways or correct to 5,800 levels. 

Trend deciding level is 5,920. If Nifty shows strength above 5,920 levels, then rally to 5,950/6,000/6,050 may be seen. If Nifty does not show strength above 5,920 levels then selling pressure till 5,880/5,840/5,800 may be seen.     

The Sensex has supports at 19,350 and 19,200 and resistances at 19,510 and 19,620. The Nifty spot has supports at 5,880 and 5,838 and resistances at 5,940 and 5,965.

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Nifty Intraday Updates for Today 20 Dec. 2012

The Nifty traded in a narrow range after opening gap up, the good thing was it held the gap. The view is still positive and once we break 5,950 - 5,960 we could see 6,100 then. 

Nifty Future ended at 5,946.90 with a small spinning top candle. Movement suggests resistance on higher band of the market around 5,990-6,000, so cautious stance needs to be taken. 

The Sensex has supports at 19,410 and 19,300 and resistances at 19,520 and 19,620. The Nifty spot has supports at 5,905 and 5,875 and resistances at 5,940 and 5,965.

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NIFTY OUTLOOK - Market Updates Today 19 Dec. 2012

The Nifty is broadly range bound between 5,840 and 5,930, it keeps consolidating between this range and we see stock specific action in the midcap or certain sector specific stocks. The Nifty is correcting slowly and buying is coming in at lower levels, hence until we are above 5,840 traders should have a positive bias.

Nifty Future closed on positive note after last few days of consolidation at 5,860 level. It finished off at 5,928.90 at highest point of the day with a long legged hammer kind of candle.

The Sensex has supports at 19,270 and 19,150 and resistances at 19,500 and 19,620. The Nifty spot has supports at 5,875 and 5,840 and resistances at 5,935 and 5,965.

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NIFTY Updates for Today 18 Dec. 2012

The Nifty is broadly range bound between 5,840 and 5,930, it keeps consolidating between this range and we see stock specific action in the midcap or certain sector specific stocks. The Nifty is correcting slowly and buying is coming in at lower levels, hence until we are above 5,840 traders should have a positive bias, as I said on all declines the market is being bought into and on the weekly time frame the markets are looking very bullish.   

Nifty Future remained in a narrow trading band of 20-30 points and finally closed at 5,889.35 with a small black body candle. It is trying to find a base around 5,860 level and on the flip side it is facing tough resistance on the rise in the band of 5,930 level. 

The Sensex has supports at 19,190 and 19,080 and resistances at 19,350 and 19,480. The Nifty spot has supports at 5,838 and 5,800 and resistances at 5,885 and 5,925.

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NIFTY OUTLOOK - Market Updates Today 17 Dec. 2012

Technically, Nifty future has moved back above 5,900 mark keeping traders clueless for the next session. Nifty Future entered back into 5,900 - 5,950 trading zone and a breakout only will set the near term trend. Above 5,950 level, Nifty future will test 6,000 mark whereas below 5,900 level it can slip back to 5,830 - 5,800 levels respectively.

For today's trade, Nifty is likely to trade in the range between 5,900 - 5,920 in the upper side and 5,860 -5,840 in the lower side. We expect 5,950/5,980 to act as intermediated resistance and 5,870/5,820 as support.

The Sensex has supports at 19,200 and 19,080 and resistances at 19,420 and 19,490. The Nifty spot has supports at 5,838 and 5,800 and resistances at 5,910 and 5,935.

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NIFTY Updates for Today 14 Dec. 2012

The Nifty was having another day of consolidation until sometime close to the session end we traded 30 points lower in one swift move. So far we have managed to close above 5,840 levels; Nifty Future ended on a bearish note at 5,876.45 with a big bearish Marubozu candle. For today's trade, Nifty is likely to trade in the range between 5,870 - 5,895 in the upper side and 5,830 - 5,810 in the lower side.

The Sensex has supports at 19,090 and 18,970 and resistances at 19,310and 19,420. The Nifty spot has supports at 5,835 and 5,800 and resistances at 5,885 and 5,910.

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