NIFTY TREND FOR 22-01-2013
MAJOR RESISTANCE LEVELS: 6095-6106-6124
MAJOR SUPPORT LEVELS : 6070-6054-6039
MIDDLE TERM TARGET : 5760-5790
Nifty closed steadily with just 18 points gain ( 0.33% ). It was a day with less fluctuation on Monday. Though it was not a clear bearish market, it got proper resistance at 6090-6100 level just as we predicted last day ( Ref: NIFTY TODAY: EPISODE 205 ).
Nifty ( closing ): 6082.30
Nifty closed at bearish zone on Monday. Long positions should be taken only after getting instruction.
MACD, Stochastic chart and Moving Averages indicates a bullish market. But, RSI depicts a neutral market. Upper Bollinger Band stands at 6092 and Middle Bollinger Band at 5980.
US indices are steady now. Asian markets also closed steadily. But, European markets closed in green last day. Brent Crude prices increased. Indian Rupees showed weak against Dollars.
India VIX closed at 13.66 with 1.66% loss.
GOOD LUCK.......................
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