Tuesday, January 29, 2013

Nifty outlook and trading levels for 29 Jan 13 RBI policy day

Yesterday Nifty spot closed making  Red doji/spindle top  near recent high ...volume was comparatively low  and today at 11 AM  RBI policy announcement will be there ..so expect some fast moves at that time..
Charts are not showing much strength but news can boost market up ...
VIX is bullish which  is indicating that fear is increased and no doubt if we will see red closing today after policy announcement, so be cautious ..

Extremly volatile market will be there expect some profit  booking in reality  auto and banking shares at higher levels ...
Trade in Nifty futures as per these levels ..
Buy at / above: 6084   Targets: 6100 - 6120 - 6139 - 6159
Stoploss : 6064
Sell at / below: 6064   Targets: 6048 - 6028 - 6009 - 5989
Stoploss : 6084
do not stay in trade without stop loss order 
We may see  at lazy market for initial 1 and half hour  then bhadaka ....
Nifty spot 6137  or  5970  ?????

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