January 29, 2014

Market outlook

NIFTY has closed below DEC 2013 and JAN 2014 swing low.

Levels to watch are 6100 and 6200. Below 6100, expect support at 5970-6000 levels. Above 6200, expect a weak rally which will provide opportunities to build short positions.

Option writing points to support at 6000 (FEB series).

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