Market Outlook Jan 20 2011

Technically Nifty is in oversold condition and closed near its support range on 5691. We expect a bouncebank of Nifty to the range of 5778 and 5874 level with resistence at 5727 level. US market fell on the account for weak earnings result of goldman sachs and wells fargo. Hence a Negative mood main prevail in the first half session of the trading .





Next Day Trading Ranges : Key Resistences and Support Areas

The [R3] or the most extreme high trading range is 5805.
The [R2] or the extreme high trading range is 5767.
The [R1] or the high trading range is 5745.
The [P] or pivot point is 5708.
The [S1] or the low trading range is 5686.
The [S2] or the extreme low trading range is 5649.
The [S3] or the most extreme low trading range is 5627.

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