Market Outlook Jan 15 2011

Support level of 5779 was broken on Friday. Look for a possible drop to the next support level at around 5591/5603 level very soon.

Global markets had postive closure on friday , with europen markets making a storng weak closure since 2009. Expect a small pull back to 5578 level if global cues stay positive. High Inflation Rates are still concerns and Corrective measures from RBI could still effect the rate sensitive secotors like realty and banks , keep off this sectors till market turns bullish again.

Nifty Trading range for Jan 15th 2011

The [R3] or the most extreme high trading range is 6032
The [R2] or the extreme high trading range is 5866.
The [R1] or the high trading range is 5778
The [P] or pivot point is 5700
The [S1] or the low trading range is 5637
The [S2] or the extreme low trading range is 5593
The [S3] or the most extreme low trading range is 5515

Market has been making downside moves hence no major long positions recommended . Few good picks to look at are TCI finance,Cairn for Jan 15.

Click on Traders Call for Day Trading recomandations .
Click on the wealth builder - for long term investment Picks.

Traders Call - Day Trading
Wealth Builder - Long Term Picks


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