THE MARKET OUTLOOK ON 7TH January

Posted By : Kishore B.S

THE MARKET OUTLOOK ON 7TH January

The market in yesterday’s trading yet again closed below 6200, near its support. We still recommended to go short on Nifty closing below 6190. But if Nifty breaks the 6230 and closes above that, it will create positive sentiments and that will be our stop loss on upside.

Today SGX Nifty indicates a flat open. Stocks to watch are the banking stocks as from the past few trading session they are under pressure. Bank Nifty closing below 11000 in cash levels would drag Bank Nifty to 10500, 10400 levels.

 

Cheers  !!

Team SMI

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