February 26, 2014

Market outlook

Trend is still up as nifty forms higher highs and higher lows.

Option writing clues point to support at 6000-6100 and resistance (minor) at 6300. This is tentative and as per March series data. Final figures will be available post Friday market close.

The weekly low is at 6100 and this is something which writers do not expect to be broken. Needless to say, the region between 6300 and 6400 is likely to offer stiff resistance.

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