DAILY NIFTY OUTLOOK(20-01-12)
With the strong good global news we expect gap up opening as indicated by SGXNIFTY too. In our view nifty will continue to move up within the rising blue colour channel with strong determination without any run away rise /collapse. Nifty is in the teasing mood to participants, conveying to cautious participants CATCH ME IF YOU CAN. For the day we see 5000-5080 as the trading range, breach below 5000 will head for 4940-4960(low probability) & cross above 5080 will lead to 5120-5140(high probability).
Bank nifty has been mercurial compared to nifty as usual. Yesterday’s pattern is slower than nifty, however we see it is a blip in strong up move. For the day we see 9100-9450 as trading range with 9700-9750 as resistance & 8950-9000 as support.
Bank nifty has been mercurial compared to nifty as usual. Yesterday’s pattern is slower than nifty, however we see it is a blip in strong up move. For the day we see 9100-9450 as trading range with 9700-9750 as resistance & 8950-9000 as support.
We recommend buying BAJAJAUTO on cross above of 1482 with the stop of 1460 for the target of 1550 in next 15 days.
We recommend buying BIOCON on cross above276 with the stop of 265 for the target of 295& 310.
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