Market outlook and Intraday tips for 22nd Jan.

>> Thursday, January 22, 2009

US markets rallied . Obamas Effect.
Europe markets ended flat.
Asia has opened mixed.
I expect Indian Markets to open flat to positive.

The target for the Sensex is 7850 and the resistance to the up move is at 8940-9075

Nifty: (2706) the target for the Nifty is at 2686-2500 and the resistance to the up move is at 2758-2779

If we have a gap up opening , markets will not be able to sustain all its gains.

Day Trading Ideas.

Reliance Ind.

Buy above 1125 for targets of 1131 and 1136

Sell below 1109 for targets of 1103 and 1097


Buy above 50.45 for targets of 51.20 and 52.50

Sell below 48.10 for targets of 47.25 and 46.50


Buy above 30.10 for targts of 30.90 and 31.65

Sell below 28.50 for targets of 27.45 and 26.90

Happy Investing.

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