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Nifty Outlook for 01 February 2012 The Nifty opened higher and traded with positive bias throughout the day. On Tuesday, It bounced back after the previous day sell off and recovered most of the losses. It ended 112 points, or 2.20%, higher at 5,199.25. The Nifty posted gained 12% in Jan 2012, led by highest monthly [...]
Nifty Outlook for 31 January 2012 The Nifty snapped six-day gains to end 117.40 points, or 2.26%, lower at 5,087.30. After opening lower, it breached the low of the hanging man candlestick formation formed on Friday. We stated, if the Friday’s low of 5,162 is violated then it can correct up to 5,070 and 5,020. [...]
Nifty Outlook for 30 January 2012 The Nifty ended higher for the fourth straight week. It ended the day 46.40 points, or 0.90%, higher at 5,204.70. On daily charts, after the sharp up move it ended in a candlestick formation resembling Hanging man, indicating likely short-term reversal in the near-term. Also, Daily RSI is hovering [...]
Nifty Outlook for 27 January 2012 The Nifty opened flat with a positive bias following positive cues from other Asian markets. It ended the day 31 points, or 0.60%, higher at 5,158.30.On daily charts, it ended in a candlestick pattern that resembles like a spinning top, which suggest indecision at the current level and buyers [...]
Nifty Outlook for 25 January 2012 The Nifty opened relatively flat with a positive bias. It gained momentum and the Nifty posted a high of 5,141 after the CRR cut by the RBI. It ended the day 81 points, or 1.61%, higher at 5,127.35. During the next trading session, the index is likely to face [...]
Nifty Outlook for 23 January 2012 Last week, Nifty opened on a quiet note and traded with positive bias for most part of the week. On week on week basis, the index rose 3.75%. The Nifty witnessed a strong intra-week rally and moved towards the expected level of 5,000 levels. On daily charts, it ended [...]
Nifty Outlook for 20 January 2012 The Nifty opened higher and continued to trade in positive territory amid a firm trend in the Asian Markets. On daily charts as well as on hourly charts RSI is approaching the overbought territory. Hence, traders should be cautious at higher levels. It is likely that the Nifty may [...]
Nifty Outlook for 19 January 2012 The Nifty opened marginally higher but failed to sustain at higher levels. As expected the Nifty corrected during the day and posted an intraday low of 4.930. On the upside, if the Nifty sustains above Wednesday’s high of 4,980 it may face resistance at 5,020 and 5,040 in the [...]
Nifty Outlook for 18 January 2012 The Nifty opened in the red and inched higher as the day progressed; it tested an intraday high of 4,975.55. We stated previously that a move above the 4921-4918 levels would lead the Nifty to test 4,950 and 4,980. On hourly charts, RSI is approaching overbought territory. Hence, intraday [...]
Nifty Outlook for 17 January 2012 The Nifty opened lower and tested an intraday low of 4,827 in the first hour of the trade. However, it recovered from the early lows to close in the positive terrain. The Nifty ended marginally higher at 4,873.90. On daily charts, momentum oscillators are placed in the bullish territory. [...]
