Daily Market
Outlook for 14 Jan
The BSE
Sensex is yet to give a definite direction call on the weekly Fibonacci charts.
The BSE index so far has moved within the near support and resistance band for
the week.
As per the
weekly charts, the BSE index may seek support around 27,175-odd level, below
which the next major support is around 26,965. On the upside, the Sensex can
face resistance around 27,740, above which the next target is 27,950.
As per the
daily Fibonacci charts, the Sensex on Wednesday, is likely to seek support
around 27,295-27,250-27,210, while on the upside may face resistance around
27,555-27,600-27,640.
The NSE
Nifty tested the resistance at 50-DMA (Daily Moving Average) and then retraced
in trades on Tuesday. In case, the NSE index bounces back and manages to break
above the 50-DMA at 8,340, the index may then target the higher-end of the
Bollinger Band at 8,425-odd levels
Among the
key momentum oscillators - the daily MACD (Moving Average
Convergence-Divergence), the ADX (Average Directional Index) and the Stochastic
Slow are all positive. The 14-day RSI (Relative Strength Index) remains in
neutral zone.
On Wednesday, the NSE Nifty may seek support around 8,265-8,255-8,245, while face resistance around 8,333-8,343-8,354.
The Bank
Nifty may seek support around 18,601-18,568-18,535, while on the other hand
face resistance around 18,813-18,846-18,879. For more details contact
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