1. NIFTY DAILY OUTLOOK
06th January 2014
SWASTIKA INTELLIGENCE GROUP
Daily Nifty Levels
Pivot: 6201
R1: 6230
S1: 6190
R2: 6260
S2: 6155
R3: 6300
S3: 6125
MARKET SUMMARY:
The Indian equity benchmark index nifty ends flat to negative note after initial weakness on Friday’s
trading session. The day was started with gap down opening below 6190 mark following yesterday’s
fall but nifty manages to recover from low of 6170 mark as buying was seen in IT and Pharma sector
along with recovery in banking sector from lower level. At the end of the day nifty closed at 6211 mark
with cut of 0.16%.
CHART FORMATION:
 Nifty witnessed breakdown of upsloping trendline support but manages to close above it.
 Nifty witnessed an indecisive spinning candlestick formation on daily chart.
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2. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
06th January 2014
 Below 6190 short term trend is likely to turn bearish where 6125-6090 is a support zone.
 50-day SMA is placed at 6190 while 200-day SMA is placed at 5915 mark.
TECHNICAL INDICATORS:
 Momentum indicator RSI has slipped below 50 mark whereas stochastic is also heading southwards.
 CCI has slipped to -200 mark and MACD also witnessed negative crossover.
STRATEGY FOR TRADERS:
Nifty is showing weakness amid choppiness as many intermediate supports are there in primary
uptrend; but traders are advised to remain cautious; if nifty trades below 6200 mark then weakness is
likely to continue for lower level of 6125-6090.
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3. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
Report Prepared by
Santosh Meena
RESEARCH TEAM
Santosh Sahu
Amit Khare
Vishnu Shreekar
Sonakshi Bahety
Saloni Gupta
06th January 2014
Designation
Derivative & Technical Analyst
E-mail ID
santosh.meena@swastika.co.in
SWASTIKA INTELLIGENCE GROUP
Research Head
Commodity Analyst
Commodity Analyst
Research Associate
Research Associate
research@swastika.co.in
Santosh.sahu@swastika.co.in
amit.khare@swastika.co.in
vishnu.shreekar@swastika.co.in
Sonakshi.bahety@swastika.co.in
Salony.gupta@swastika.co.in
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