Market outlook and intraday tips for 15th Jan.

>> Thursday, January 15, 2009

US markets plunge.
Europe also was in red down over 4%.
Asia has opened weak.
India is bonded to open lower.

The target for the Sensex is 9250 and the resistance to the up move is at 9557-9731

Nifty: (2835) the target for the Nifty is at 2775 and the resistance to the up move is at 2882-2931

Day trading ideas.


Buy above 20.90 for targets of 21.25 and 21.90

Sell below 19.80 for targets of 19 and 18.45


Buy above 215 for targets of 219 and 223

Sell below 205 for targets of 199 and 193


Buy above 109 for targets of 112 and 115

Sell below 102 for targets of 98 and 93

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Dhawal J. January 15, 2009 at 8:54 AM  

Nifty (2835)

Nifty 30 Minutes chart has formed “BULLISH THREE OUTSIDE UP” pattern which has very high reliability but by looking at world market, long is advisable only above yesterday’s high which is 2853 but sustainability needed at this level. Real Weakness below 2787 till 2722 and here I am stick to same view below 2722 extremely bearish market. Stochastic and RSI is giving negative direction where is MACD has given positive direction.
One more thing to add here is Supply line ends at 2815 below which some minor weakness likely to persist.



Due to uncertainty in global market, I am not providing pre market calls , that will do in market time.

Happy Trading to All