Market Outlook 16th February 2011

Nifty Pivot 5460
Support 5441-5425
Resistance 5503-5538

After falling for more than 1000 points since January, Nifty finally manged to bounce back from its lows and is now recovering due to heavy short covering and fresh buying.

Market Outlook 9th February 2011

Remember what we mentioned in last edition of market outlook?
It is writing on the wall and you can just read it upside down.

Market Outlook 7th February 2011

Since the day Nifty closed below 200 DMA (SMA at 5630 & EMA at 5650) it became evident that market will free-fall for some more days in the coming sessions.

We mentioned in our last issue of market outlook that all rise should be used for exiting longs and traders may either remain short or stay out rather than keeping longs.

So had anybody followed our advice must be in good profit now!

Market Outlook 2nd February 2011

Punters have tasted the blood and did spare a single chance to pull the market down.

Without much hesitation all short unwinding was put aside and we could see fresh shorts on Tuesday.

Market Outlook 1st February 2011

Nifty's resilience to below 5400 level and then rising up to close just 6 points down from its previous close (Friday) is a healthy sign.

Punters are gearing up to cover their shorts and may push Nifty further up due to short covering.

Market Outlook 31st January 2011

Nifty breached all important barriers last week and lost almost 4% on closing basis and made new low after 1st September 2010.