Nifty Analysis

 

Daily Chart

  Half Hourly Chart 

 Another Inside day pattern within the sideways move indicating indecision.The close was above  the 50 Ema ,7sma  and 20ema.Break and close above 6288 is required to resume the upmove from 6140.The broad range remains at 6130-6415 which needs to be broken to end the stalemate. 

6306 will be a strong resistance area with a confluence of fibo resistance.

 Half hourly charts shows a descending triangle which should break down as per it's characteristic.Breaking upwards will be bullish.Resistance from this triangle is at 6328-6325 intraday.The 6140-6225  range break target is 6299.Watch this 6299-6325 level to see if Nifty weakens or strengthens here.

These are excerpts from the Daily analysis sent to subscribers.

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Lakshmi Ramachandran
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Which Sector Strongest ?

BankEx

Auto

 Capital Goods

Consumer Durables

 FMCG

 Healthcare

 

 

 IT

 Metal

 Oil  and Gas

 Realty

 Power

Conclusion : 

Strong sectors IT and Healthcare

Sectors bottoming Capital Goods and Metal

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Lakshmi Ramachandran
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Disclaimer

All the calls made in this section are based on my judgment and the information available at the particular point of time. Adequate precaution has been taken while writing the analysis. However, no responsibility is taken for the losses or gains made through the analysis, either legally or otherwise. Readers are advised that acting on the analysis is at their own risk. Stock Market trading involves risk and is a high risk & high return business and I do not accept any financial and/or legal responsibility arising from the use of the information

Happy New Year !

Yearly Chart 

Nifty cheered 2013 with a breakout  from the ascending triangle on the yearly line charts.This is certainly bullish and one can be bullish on the Indian markets for the long term.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com