Wednesday, January 27, 2010

Indian Stock Market Outlook 27-Jan-2010 (Nifty, Bank Nifty and Stocks)

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Readers who went long in bhel and short in infosys on monday would have made a lot of money as BHEL


moved up and infosys fell like nine pins just like we had written in


http://jerrytechnicals.blogspot.com/2010/01/interesting-stocks-for-next-week-25th.html


Nifty


With RBI meeting round the corner, markets are expected to exhibit nervousness in the coming days.



For tomorrow's trading two levels are critical for nifty future as per fibonacci extension.


On the upside 5035 and on the downside 5000.


Crossing and trading above 5035 with volumes, nifty future will move to 5050, 5075 and 5096.


On the other hand if nifty crosses 5035 and then breaks 5000 , bears will hammer it down to


the extent of 4970 and 4940. Trading below 4940 can even take the index to 4882.


SUNPHARMA



SUNPHARMA looks good for a swing long trade.


1425 is the buying area and stop should be below 1400.


Target would be 50% retracement of the recent fall at 1530.


Weekly Outlook


Link to Weekly Analsyis of Indian Stock Market:


http://jerrytechnicals.blogspot.com/2010/01/weekly-outlook-for-indian-stock-market_24.html


Link to Weekly Analysis of Gold Future:


http://jerrytechnicals.blogspot.com/2010/01/gold-views-mcx-india-25th-jan-2010-till.html


Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

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