February 6, 2014

Market outlook

Another day of selling followed by buying on dips.

Last 3 days candlestick shows buying at lower levels and close near days' highs.

Holding recent lows, expect market to show some small rally not crossing 6200. However the market is now more of sell on rise than buy on dips.

A fall of 400-500 points is then possible as and when nifty forms a lower swing high.

Option writing points to support at 6000/ 5900 and resistance at 6200.

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