Wish you a very happy new year and outlook for Jan 1st, 2014

 

As expected Nifty opened above 6300 and made a low of 6287 and and was in a range whole. It is boring day without much activity and most of the stocks were in a range. Nifty failed to cross alltime yearly high of 6330 and ended at 6302. Volumes have dried out as expected

Shorterm Trend
Nifty has closed just above 6300 which is immediate resistance, but for it to make  a move higher levels it should close above 6320 levels for 6350 and 6400 which at key resistances for a move to  all time highs and below 6260 which is acting as strong support we could reach 6200 and 6160 with in no time.VIX is now trading above 15 and when it reaches 17 we could see a real actvity in market.

Intraday Trend
Nifty could open flat as I see less volumes and activity. I am sticking to yesterdays levels of Nifty above 6320, we could see 6335 and 6350 and on the downside below 6300  we could go to 6285 and 6270.

Top picks for the day
My top pics for the day are TataMotors, HCL Tech, Century Text, MCDowell and BHEL. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Pivot levels of  key stocks