Market updates for 22/01/2013

Nifty hourly chart

Nifty is gradually moving towards 6100 . Positional traders can move stop loss for Nifty to 6040 and trading below this level for an hour will lead to short term dip. Overall trend will remain bullish.

Corporate results on 22/01/2013

Everest Ind , Welspun Corp

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6094
Reversal if closes below	5800

Thought for the day

 

When there is an understanding of fear, there is an understanding of all the problems related to that fear. When there is no fear there is freedom. - Jiddu Krishnamurti