Thursday, January 21, 2010

Outlook for 22nd January 2010

Daily trend of the market is down
The market has broken its major support, and now the trend of the market is down. down. The readers who had created long positions in Nifty (bought on 30th December) may quit their longs and stay away from the market till the trend remains in downtrend.
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Percentage above support
Percentage of stocks above support are still above 50%, so the readers who have created long positions in deliveries may go on holding them till percentage of stocks above support remains more then 50%.
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Strong Futures
This is list of 10 Strong Futures: Sun TV, GTL Infra, Finance Tech, Chambal Fert, Pantaloon Retail, Dish TV, Federal Bank, Nagarjuna Fertil, Triveni & DCB.
Weak Futures
This is the list of 10 Weak Futures: LITL, Pir Health, Hind Petro, LT, Balrampur Chini, Orchid Chem, BPCL, Bajaj Hind, Praj Industry & HDFC.
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