Market Review For 21 Jan 2010

January 20, 2010 by

Nifty is moving lower towards the end of Levels 5180-5280 range and below 5180, the swing low of 5160 is crucial. if Nifty closes below 5160, the downward momentum will gain strength towards the short-term target of 5000. On the upside, the index has to move above 5280 to reverse the downtrend. The earlier resistance of 5180 has now become the crucial support and if this is broken the trend will reverse. By all this market looking on bearish mode.

  • Short Nifty if Breaks 5180 Sl 5218 Target 5150-5108-5086

  • Buy Renuka sugar @218 Sl 210 Tgt 230

  • Buy TV-18 @ 90 SL 85.50 Tgt 94.60/98/101

  • Sell Unitech @ 83 Sl 84.60 Tgt 82.25/81.60

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