Market outlook and intraday tips for 13th Jan.

US markets were down again yesterday.

Europe ended lower too.

Asia is bonded to open negative. We may see a negative opening in the Indian markets also.

NIFTY is technically oversold and is now in down trend for short term.

Do not initiate any fresh buys. Also don’t short much below 2700 as we can bounce back on short covering.

The support for the Sensex is 8947-8845 and the resistance to the up move is at 9575-9750

Nifty: (2773) the support for the Nifty is at 2685-2404 and the resistance to the up move is at 2812

Day trading ideas.

Unitech

Buy above 35.10 for targets of 36 and 37.10

Sell below 33.05 for targets of 32.50 and 31.70

Sesa Goa.

Buy above 77.50 for targets of 79.05 and 80.50

Sell below 74.10 for targets of 73.50 and 72.25

Rajesh Exports

Buy above 22 for targets of 22.70 and 23.25

Sell below 20.50 for targets of 20 and 19.45

HDIL

Buy above 102 for targets of 103.20 and 104.50

Sell below 98 for targets of 96.40 and 95.10

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