January 7, 2014

Market outlook

NIFTY closed lower today accompanied with a drop in VIX. We have support at 6100 and I am hopeful this will not break this month. Option writing points to limited upside with call writing resistance at 6300.

Intraday charts point to a lot of rangebound trading... resistance is seen at 6250F... sustaining above this will be bullish.

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