MARKET OUTLOOK ON 13th January 2014

Posted By : Kishore B.S

Expect the market to open on positive note on account of global cues.

Ministry of petroleum has finally notified the domestic natural gas pricing guidelines for 2014. Which is a positive news for the oil marketing companies like Reliance, ONGC etc.

In today’s trade if Nifty is able to close above 6230, the short recommended in last week should be closed, i.e. Nifty as well as Bank Nifty. Otherwise keep 6230 as a stop loss for Nifty and 11020 for Bank Nifty and we can continue to hold the positions.

Cheers  !!

Team SMI

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