Market updates for 10/01/2013

Nifty daily chart

In today's trading session Nifty has closed exactly at trend line support 5971. If Nifty closes below this trend line support then positional traders can short Nifty futures.

Ambuja Cement

Ambuja Cement has breached trend line support at Rs.198. Further fall is expected more details for subscribers.

Zinc

Zinc has formed inverted triangle formation . Base of the triangle is at Rs.111.25 and in yesterday's trading session this level is breached. We are bearish on Zinc from short term point of view.

 

Update on LIC Hsg Fin

 

We have initiated short in LIC Housing Finance fut at Rs.287 as it has closed below the support at Rs.288.

Nifty Medium Term Trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6020
Reversal if closes below	5800

 

Thought for the day

Human happiness and human satisfaction must ultimately come from within oneself. It is wrong to expect some final satisfaction to come from money or from a computer. - Dalai Lama