Market Outlook Jan 19 2011

The Nifty managed to end above 6700 level on Tuesday following positive global cues and a smart pullback in trade could be seen on account of short covering . Good set of results from TCS , AXIS bank also helped the indices to close on positive note.

No major negative world cues are present today hence we expect this upside momentum of Nifty to continue with minor resistences at 5737 and 5778 Level.



Next Day Trading Ranges : Key Resistences and Support Areas

The [R3] or the most extreme high trading range is 5764.
The [R2] or the extreme high trading range is 5730.
The [R1] or the high trading range is 5692.
The [P] or pivot point is 5658.
The [S1] or the low trading range is 5620.
The [S2] or the extreme low trading range is 5586.
The [S3] or the most extreme low trading range is 5548.



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