1. NIFTY DAILY OUTLOOK
30th December 2013
Daily Nifty Levels
Pivot: 6310
R1: 6342
S1: 6300
R2: 6373
S2: 6260
R3: 6415
S3: 6230
MARKET SUMMARY:
A range bound and last trading session of the week ends on firm note. The day was started on optimistic
note and remains positive but range bound for the entire trading session. Nifty manages to breakout
6320 resistance mark but closed below this; market is crawling but heading northwards which is a
relief point for the bulls; at the end nifty closed at 6313 mark with gain of 0.56%.
CHART FORMATION:
 Nifty has come out from 6250-6320 trading zone but closed below 6320 mark.
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2. NIFTY DAILY OUTLOOK
30th December 2013
 Nifty manages to hold horizontal support line placed at 6160 mark on intraday basis.
 Nifty is moving in an upsloping channel formation where 6120 is upsloping trendline support while
6450 is upside resistance.
 50-day SMA is placed at 6183 while 20-day EMA is placed at 6227 mark.
TECHNICAL INDICATORS:
 Momentum indicator RSI and stochastic both are positively poised.
 CCI has moved above 100 mark whereas MACD trading at 35 mark.
STRATEGY FOR TRADERS:
Nifty has trading zone of 6250-6320 mark; but nifty is likely to come out of this range and likely to head
towards 6400 mark once again; intraday traders are advised to take long position with stop loss at
6290.
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3. NIFTY DAILY OUTLOOK
30th December 2013
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