Submitted by: Kiran Kumar Reddy

Indian stocks wrecked higher on Tuesday after Finance Minister yesterday announced a fiscal shortfall target of 4.1 percent of the Gross Domestic Product, and a gross market scrounge of 5.97 trillion rupees, below market expectations. The Bombay Stock Exchange Sensex closes at 20635 were up by 171 points or rose 0.83 percent. Bse Mid cap Index ending by 0.71 percent rose and the Bse Small Cap Index were gained by 0.80 percent on today Day Intraday Trade Closes.

Sensex Major Resistance on Upside at 20732-20828-20924

Sensex Major Support on Downside at 20490-20344-20248

Trend Deciding Level at 20586

Nifty Index Major Resistance on Upside at 6164-6200-6236

Nifty Index Major Support on Downside at 6069-6010-5974

Trend Deciding Level at 6105

Major Headlines

Vote on Account 2014-15: High on intent, as expected’

ABB zooms on strong Q4, FY13 nos

GSK Pharma FY13 consolidated net profit down 14% (YoY)

Bangladesh inks exploration deals with Oil India, ONGC

Force Motors promoter acquires 6.3 lakh shares on spot delivery basis on February 17, 2014

Kolte-Patil says signed 2 re-development projects in Mumbai

GMR Infra completes divestment of GMR Ulundurpet Expressways

Alstom India gets project worth of 25 m from NTPC

Indian Indices

The Nse Nifty Index closed in the positive note today, were up by 53 points and closes at 6127. In excess of the next couple of days it is expected to trend is down till 6000. In this period the key support will be at 6071 and resistance will be at 6150.

In the daily chart the index is trading around the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6103 and 6136 correspondingly. The momentum pointer is trading in positive mode.

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6071 and 6071 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned positive. The market duration was turned positive mode today with 817 advances and 591 declines on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 6170-6201-6232

Nifty Future Major Support on Downside is at 6095-6051-6020

Trend Deciding Level at 6126

Bank Nifty Major Resistance on Upside at 10691-10809-10927

Bank Nifty Major Support on Downside at 10384-10195-10077

Trend Deciding Level is at 10502

5 Daily Moving Average @ 6066

50 Daily Moving Average @ 6188

200 Daily Moving Average @ 5979

5 Days Relative Strength Index @ 67 and 14 Days Relative Strength Index @ 50 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.

Global Trends

Gold Trading Around 1300-1321

US Dollar Index Trading Around 81-80.01

Nymex Crude Trading Around 100-101.24

DOW Future Trading Flat on Tuesday

Bullish Global Trend Seen

Stock Trading Tips

Buy Nifty Fut January Intraday above 6160 sl 6135 Tgt 6180-6205 {Or} Sell Below 6110 sl 6135 Tgt 6090-6065

Buy Bank Nifty January Intraday above 10600 sl 10550 Tgt 10650-10700 {Or} Sell below 10500 sl 10550 Tgt 10450-10400

Amazing

Sree Padmanabha Swamy Temple in Trivandrum, Kerela, is the world s richest temple. The recent discovery of treasures worth over Rupees one lakh crore in the secret vaults of the temple that have remained unopened for centuries, has stunned the world.

Article Source: http://www.charanwings.com/blog/post/Nifty-in-Opposing-Feel-Again-and-Stock-Trading-Tips

About the Author: Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij.in) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness Fore More Articles Log on to

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