NIFTY TREND FOR 28-01-2013
MAJOR RESISTANCE LEVELS: 6099-6123-6168
MAJOR SUPPORT LEVELS : 6038-5994-5968
MIDDLE TERM TARGET : 5760-5790
Nifty performed steady and steep increase from noon. It gained 55 points ( 0.92%) on Friday. Auto stocks got good demand last trading session.
Nifty ( closing ): 6074.65
Nifty closed at a neutral level on Friday. So, positions ( both long and short ) should be taken carefully. It may get good resistance at 6100-6110 level and support at 6010-6020 level.
MACD indicates bearish market, while RSI and Stochastic depicts neutral trend. Moving Average shows a bullish trend on long term run. When Upper Bollinger Band stands at 6100, Middle Bollinger Band at 6010.
US and European indices closed with gain last day. But, Asian markets showed a mixed trend. Brent Crude prices increased slightly.
India VIX closed at 14.77 with 2.14% gain.
GOOD LUCK.....................
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