1. NIFTY DAILY OUTLOOK
13th January 2014
SWASTIKA INTELLIGENCE GROUP
Daily Nifty Levels
Pivot: 6183
R1: 6230
S1: 6130
R2: 6270
S2: 6090
R3: 6330
S3: 6050
MARKET SUMMARY:
The Indian equity benchmark index nifty closed flat amid highly volatile trading session on Friday. The
day was started on flat note but nifty rallied and breakout 6225 resistance mark on the back of buying
in heavy weights like Infosys, Reliance, ITC and ONGC but nifty was unable to hold 6230 mark and
witnessed a sharp fall from high point of the day on the back of heavy selling in banking, auto and other
high beta names.
CHART FORMATION:
Nifty has witnessed breakdown of upsloping trendline support but it is still trading in congestion zone
of 6230-6130.
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2. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
13th January 2014
6230 is key level to watch out for any upside rally for new high amid result season.
Nifty has immediate support around 6140-6125 zone below this 6090/5925 will be next important
support levels.
50-day SMA is placed at 6195 while 200-day SMA is placed at 5915 mark.
TECHNICAL INDICATORS:
Momentum indicator RSI is trading below 50 mark while stochastic has entered into oversold
territory.
CCI is placed at -55 mark with some positive divergence while MACD witnessed centerline crossover.
STRATEGY FOR TRADERS:
6230 is key level to watch out for traders; if nifty will manage to trade above this mark for 15-20
minutes then a short covering rally is expected for 6300+ level; while if nifty fails to cross this mark
then selling pressure will continue where 6130 is key support level in downside.
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3. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
Report Prepared by
Santosh Meena
RESEARCH TEAM
Santosh Sahu
Amit Khare
Vishnu Shreekar
Sonakshi Bahety
Saloni Gupta
13th January 2014
Designation
Derivative & Technical Analyst
E-mail ID
santosh.meena@swastika.co.in
SWASTIKA INTELLIGENCE GROUP
Research Head
Commodity Analyst
Commodity Analyst
Research Associate
Research Associate
research@swastika.co.in
Santosh.sahu@swastika.co.in
amit.khare@swastika.co.in
vishnu.shreekar@swastika.co.in
Sonakshi.bahety@swastika.co.in
Salony.gupta@swastika.co.in
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