The Indian shares were knocked down for 4th uninterrupted day, as investors turned cautious and booked profit in financials and index heavyweights. The Bombay Stock Exchange Sensex closes at 28788 were down by 64 points or shed 0.31 percent. Bse Mid cap Index sees up by 0.35 percent and the Bse Small Cap Index were climb by 0.95 percent on Monday Day Trade Close.

Sensex Major Resistance on Upside at 20925-21062-21198

Sensex Major Support on Downside at 20451-20588-20688

Trend Deciding Level at 20825

Nifty Index Major Resistance on Upside at 6226-6259-6292

Nifty Index Major Support on Downside at 6166-6139-6106

Trend Deciding Level at 6199

Major Headlines

GSFC block deal: 40 lakh shares exchanged at Rs 53.15-53.75/share on NSE and BSE

Swiss Fin Corp (Mauritius) sells 22.5 lakh shares of Apollo Tyres on Jan 1

The promoter of Time Technoplast has released pledge on 97 lakh shares, reports CNBC-TV18.

L&T Construction receives orders worth Rs 2962 cr

India’s services PMI slips auxiliary to 46.7 in December

Valecha Engineering Limited bags Projects worth Rs. 133.45 Crores

Dr Reddys Laboratories Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 11, 2014, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended December 31, 2013 (Q3)

Indian Indices

The Nse Nifty Index closed in the negative note today, were down by 20 points and closes at 6191. In excess of the next couple of days it is expected to trend is down till 6130. In this period the key support will be at 6170 and resistance will be at 6243.

The Nifty has faced resistance around the upper end and of the Bollinger Band on the daily chart and at the 78.6% retracement level of the previous fall

In the daily chart the index is trading below the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6251 and 6194 correspondingly. The momentum pointer is trading in negative mode.

In the hourly chart, the Nse Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6224 and 6243 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned positive. The market duration was positive mode on yesterday with 688 advances and 499 declines on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 6251-6273-6295

Nifty Future Major Support on Downside is at 6205-6181-6159

Trend Deciding Level at 6227

Bank Nifty Major Resistance on Upside at 11244-11360-11476

Bank Nifty Major Support on Downside at 11034-10940-10824

Trend Deciding Level is at 11150

5 Daily Moving Average @ 6245

50 Daily Moving Average @ 6191

200 Daily Moving Average @ 5911

5 Days Relative Strength Index @ 27 and 14 Days Relative Strength Index @ 46 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BEARISH MOMENT.

Global Trends

Gold Trading Around 1200-1244

US Dollar Index Trading Around 80-80.96

Nymex Crude Trading Around 95-94.07

DOW Future Trading Flat on Monday

Global Trend is Neutral

Intraday Tips

Buy Nifty Fut January above 6245 sl 6220 Tgt 6265-6290 {Or} Sell Below 6200 sl 6225 Tgt 6180-6155

Buy Bank Nifty January above 11180 sl 11130 Tgt 11230-11280 {Or} Sell below 11080 sl 11130 Tgt 11030-10980

For More Quires Call Us at 09052524345/09848969869 or Log on to www.charanwings.com

Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity to Dalal Street Investment Journal since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness

Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity to Dalal Street Investment Journal since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness

Author Bio: Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity to Dalal Street Investment Journal since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness

Category: Finances
Keywords: Futures Trading,Option Tips,Stock Market Tips,Intraday Tips,Equity Advisory Services