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Wednesday, 22 January 2014

Nifty January 2014 series analysis prediction - 22 january 2014

Hi,

Nifty January 2014 series analysis for 22nd January 2014

Today Nifty reacted sharply towards downside making low of around -20 points and reacting sharply from there.
Nifty today makes new swing high of 6349 surpassing last swing high made 4 days back at 6346. 6400 puts are written off and now sitting at new series high. DIIs today didnt show any interest at all in selling at higher levels adding more fuel to the upside fire. 6415 coming soon. Derivatives + Equity segment data is encouraging for one more momentum.

Nifty January 2014 series forecast for 23rd January 2014

Tomorrow Nifty traders can target 6382 spot and 6400 future targets. 6400 spot/future level can be used for exiting longs for this series. 

Advice for traders

Traders are advised to exit longs when 6400 fut/spot is hit and wait for higher levels for shorts. 

Announcement Strategy section is starting from today. It can be reached at http://nifty-strategy.tracknifty.com/ .

Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com