Monday, January 7, 2013

Nifty outlook and trading levels for 07 Jan 13

Flat to positive opening is expected with possibility of choppy session ahead .We may expect profit booking at higher levels but players will try to move up again in last hours trade as they did on Friday and thus we may or may not see 1 more hanging man like eod candle .
Trade in Nifty futures as per these levels
Buy at / above: 6066   Targets: 6082 - 6100 - 6120 - 6139
Stoploss : 6048
Sell at / below: 6048   Targets: 6028 - 6009 - 5989 - 5970
Stoploss : 6066

please trade according to trend with stoploss order .

season, which will kick start this week with earnings release of IT bellwether Infosys on Friday. Industrial production figures due on Friday could also be keenly watched as the numbers coupled with the inflation figures that will be released later next week .
Indian companies, which have reported earnings growth in the low single digits for the past six quarters, are unlikely to show much improvement as they start posting December-quarter financial results starting this week in the absence of an economic recovery.

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