January 13, 2014

Market outlook

Within the broadly range bound market we have seen over the last few weeks, nifty closes up smartly 2% in the positive. Advance decline was good.

Option writing points to support at 6200 and diminishing resistance at 6300.

Action continues to remain stock specific. Today IT stocks moved... for bullish trades, look for stocks making new highs or breaking out above their 40-50 days highs. Ditto for the short side. 

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