12 January 2015

NIFTY OUTLOOK FOR TOMORROW 13 JAN 2015

Nifty re-conquered the 8300 level. The market exhibited high amount of choppiness in trade today as index bellwethers were in divergent mood. Markets ended higher, led by IT major Infosys and select financials ahead of November IIP and December CPI data to be released later today. The index immediately slipped into the negative zone owing to weak overseas cues. The Nifty gained 87 points in intra-day trade, and finally settled 39 points higher at 8323. The index today touched a high of 8332, and a low of 8245. Total 87 points was moved by nifty throughout the day.
Tomorrow if the bulls manage to hold the Nifty above 8335 zone then they would try to push it up to levels reached on last Friday; however, the intraday volatility that we saw on today indicated the nascent upswing has already run into rough weather. Thus, taking out the zone between 8350 and 8370 would be very crucial if it were to turn into a sustainable uptrend. In case, the index falls below 8290 on heavy selling it might retest the strong support zone from 8265 and 8250. 
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RESISTANCE: 8340, 8380, 8420
SUPPORT:  8300, 8260, 8220

3 comments:

  1. The Sensex is up 48.57 points at 27633.84 and the Nifty is up 23.15 points at 8346.15.

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  2. INDIAN BENCHMARK are likely to open on a slightly positive note as the global cues look mixed. SGX Nifty is trading 28.50 points higher.
    Stock Cash Intraday

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  3. Infosys implements IT solutions for US-based L.A. Care Health Plan.
    Stock Futures Calls

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