Market updates for 25/01/2013

LT daily chart

LT has declared quarterly result today.  It has major support at Rs.1530 and resistance around Rs.1600. So we need break out from this range to take position.

Nifty monthly chart

Refer to the analysis of Nifty on 1/01/2013

http://karthik4bullsnbears.blogspot.in/2013/01/market-updates-for-02012013-sbi-daily.html

I had mentioned about possibility of Nifty facing resistance around 6100 and what is the recent high??  6101. Now  Nifty is in make or break situation either it has to break 6100 and reach 6200-6300 and may be much higher or it has to fall. So stay cautious and be patient.

What will be X factor for breakout or break down ?? Lets see

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

Thought for the day

Happiness is within and the source is the centre of consciousness, love, and wisdom - Swami Rama