Monday Market Overview 22Jan

Its bulls that have been all over the market as we have witness another session of market where Indian benchmark indices and Bank nifty future closes at record high driven by Nifty heavyweight TCS AND RELAINCE, both gained 5.31% and 4.32%. Indian Equity Indices started today session on flat note and apart from 1st hour of the day full session is dominated by bulls as Sensex closed with a gain of 286.43 points at 35798.01, Nifty future closed with a gain of 62.95 at 10964.00 and Bank nifty future closes with a gain of 91.95 at 26988.00.Apart from Metal and PSU banks both closes with loss 0.68% all indices closes on positive note in which IT and reality sector gained the most by 2.07% and 1.91%. 872 shares gained, while 662 shares loose and 39 shares remained unchanged from NSE.

TCS, Reliance and ONGC were top Nifty 50 gainers today and HPCL, Idea Cellular and Gail were top losers today.

Most of the retail investors wants this market to fall big as they are in fear to put their money on work as market is too high but many big institutions have earned massive amount for themselves and for their clients as they are not investing on any rumor or intuitions and will only pull back their money when market gives confirmation, in this scenario investors should adopt RIDERS approach which is best for current situation who follow trail and stop method means they will maintain their position and updating their stop loss regularly till market will stop them out. We should understand that this rally is driven by liquidity and when market will change its direction many institutions will pull back their money and start to sell in derivatives which will increase more pressure in the market. But you don’t have to worry for Tuesday market as market will continue its buying trend as next level for Nifty future is 11040-11080 where Nifty future will face upward sloping trend line resistance, which started from 10 Oct 2010.Investors and traders should approach buying on dips strategy on Tuesday and also should trade with proper entry and exit strategy.

RESISTANCE & SUPPORT LEVELS -:

Support of Nifty future is placed at 10880 and 10800.

Resistance of Nifty future is placed at 11010 and 11060          .

Support of Bank Nifty future is placed at 26750 and 26600

Resistance of Bank Nifty future is placed at 27120 and 27350.

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