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Tuesday, 14 January 2014

Nifty January 2014 series analysis forecast - 14 January 2014


Nifty after yesterday's sharp up move today cooled off.

6400 Put saw fair amount of writing for the first time in this series.

6232 is the level to watch for.

Below 6232 bears will have upper hand.

Nifty has taken its time to form a base at 6139 which was highest monthly open historically.

Time wise , bear pressure was upto 15th January 2014.

So from tomorrow until 29th January 2014 it will remain in bull side time wise.
Technicals are also supporting this view. 6232 remains your stop loss for longs.

Strict long positions exist only above 6280.

Happy Trading ! 

Anjum S Khan