NIFTY OUTLOOK FOR 30 & REVIEW

CLOSING SESSION BETTER

Nifty                               8952   +38

Astro Info :: Moon transits in  Rohini and Mrigasira  in Taurus.   

Tithi : Sukla Ekadasi  ; Weekday:: Friday;  .

Individuals born in Gemini and Libra   signs and in Pushyami, Anuradha and Uttarabhadra    constellations    may remain cautious in their transactions.

Nifty Range of Thursday and Friday(Combined High and Low of these Two days i.e., 22 and 23 January) may be regarded as the reference range for the next Three weeks and can be expected to be bullish above the High of this range and Bearish below the low of this range. Now the range is  8866 and 8727 and Hence further bullish above 8866 and Bearish below 8727 and neutral in between these levels.

Since it has closed above the high of the above range, first target is 9010.

Senstive time:: 11.40AM; 12.40pm; 2.15pm to 3.10pm

Market Outlook for Friday, 30th January, 2015
Nifty remained in negative zone for most part of the day and rallied in the closing hour due to short covering  and closed above 8950. Stop loss for Nifty long positions may be trailed to 8825 (on close basis). Nifty spot is expected to encounter resistance at 8990, 9025 and find support at 8910, 8870 for  Friday.   While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market  is expected to trade in a zigzag manner in forenoon session and could remain better in the closing hour.
Trading strategy :: 

Usually, new series beginning is positive. Buy Decline as long as 8825 spot holds.

Breakout / Break Down Levels::

Breakoutlevel  is 8994 and Breakdown level 8835 for Nifty spot for Friday .,  It is unlikely that both levels would be breached., If Breakout level is breached., It is a Buy on Decline with Low as Stop loss and if Breakdown level is breached, It is a sell on rise with high as stop loss. Alternatively, if Nifty is unable to cross the Breakout level, short positions, can be considered with Breakout as stop loss and unable to breach the breakdown level, long positions can be considered with Breakdown level as stop loss.

NEW CLOSING PEAKS

After a brief pause, stocks continued their upward march today with benchmark Sensex rising 122.59 points to new closing peak of 29,681.77 and Nifty index gaining 38.05 points to 8,952.35 on fag-end buying in select bluechips amid expiry of monthly equity derivatives. Besides, in-line earnings from some firms and strong foreign capital inflows helped the indices end in the green. While Sensex resumed its rise after breaking a 8-day rally yesterday, Nifty rose for the 10th straight session. Shares of Realty, Refinery, Healthcare and FMCG sectors were the major gainers of the day. The BSE Sensex resumed lower at 29,516.49 and dropped further to 29,378.30 on profit-booking amid lower global cues. However, it recovered afterwards to lifetime high of 29,740.63 before ending at all-time closing high of 29,681.77, showing a recovery of 122.59 points or 0.41 per cent. The Sensex had declined by 11.86 points yesterday. "January F&O expiry induced significant volatility today on benchmark indices with Nifty closing higher in spite of weal global markets and negative breadth." said WealthRays Securities, Director & CEO, Kiran Kumar Kavikondala. Among Sensex constituents, Coal India fell over 2 per cent after government announced plans to sell up to 10 per cent stake on January 30.

Meanwhile, the CNX 50-share Nifty firmed up further by 38.05 points, or 0.43 per cent, to finish at 8,952.35 after hitting intraday high of 8,966.65. Asian stocks ended lower after the US Federal Reserve unexpectedly lifted its view on the economy, signalling that the US central bank remains firmly on track with plans to raise interest rates this year, experts said. Key benchmark indices in China, Taiwan, Hong Kong, Japan and South Korea fell by 0.54 per cent to 1.31 per cent while Singapore Strait Times ended steady.