1. NIFTY DAILY OUTLOOK
10th January 2014
SWASTIKA INTELLIGENCE GROUP
Daily Nifty Levels
Pivot: 6170
R1: 6200
S1: 6130
R2: 6225
S2: 6090
R3: 6260
S3: 6050
MARKET SUMMARY:
It was again a lackluster session on Dalal Street amid intraday choppiness. The day was started on flat
note and remains change bound for entire trading session in the range of 6160-6190 mark. Advance
decline ratio was in the favor of downside where midcap was underperformer. At the end nifty closed at
6168 with cut of 6 points.
CHART FORMATION:
 Nifty witnessed breakdown of upsloping trendline support and closed below this.
 6220 is horizontal resistance for nifty on closing basis for any further upmove.
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2. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
10th January 2014
 Nifty has some support around 6140-6125 zone below this 6090/5920 will be next important support
levels.
 50-day SMA is placed at 6195 while 200-day SMA is placed at 5915 mark.
TECHNICAL INDICATORS:
 Momentum indicator RSI has slipped below 50 mark while stochastic has entered into oversold
territory.
 CCI is placed at -100 mark with some positive divergence while MACD witnessed centerline.
STRATEGY FOR TRADERS:
Nifty is very choppy but short term trend is likely to turn bearish; if nifty trades below 6170 mark then
traders are advised to remain in short side for intraday; while 6220 is important resistance for any
further upside move.
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3. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
Report Prepared by
Santosh Meena
RESEARCH TEAM
Santosh Sahu
Amit Khare
Vishnu Shreekar
Sonakshi Bahety
Saloni Gupta
10th January 2014
Designation
Derivative & Technical Analyst
E-mail ID
santosh.meena@swastika.co.in
SWASTIKA INTELLIGENCE GROUP
Research Head
Commodity Analyst
Commodity Analyst
Research Associate
Research Associate
research@swastika.co.in
Santosh.sahu@swastika.co.in
amit.khare@swastika.co.in
vishnu.shreekar@swastika.co.in
Sonakshi.bahety@swastika.co.in
Salony.gupta@swastika.co.in
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