February 5, 2014

Market outlook

Markets bounce off days' lows and closes at the highs of the days. Now overall trend is down so what we are seeing is a technical pullback or relief rally. This is along expected lines and should not exceed 6200-6300 levels.

In other words, the markets remains a sell on rise and not a buy on dips market.

Option writing points to support at 6000 and resistance at 6200.

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