Now start RBI rate speculation
Stock markets will take cues from the next batch of earnings from blue-chips. Corporate earnings from Pharma, PSU, Banking and Capital Goods sectors will be important to watch from the current levels. Major corporates announcing results this week include UltraTech Cement, Ashok Leyland, HDFC, L&T, Cairn India and Glenmark Pharmaceuticals.
Overall trend of Nifty is still looking bullish . But be cautious to take new longs
Caution is likely to prevail ahead of the Reserve Bank's policy review on January 28. RBI kept the repo rate unchanged after its last policy review in December and investors expect an encore this month after inflation showed signs of easing.
Excella Call on Nifty
If Nifty futures goes below 6244 tomorrow morning further selling can be expected . (sell with a target of 6226 and stop loss at 20 points). Below 6226 market may really lose all support and may increase its pace of slide. In that case 6186 will act as a short term support.
Buying can be only made above 6278 level. That too cautiously as market may trade range bound and it will continue uptrend only when it breaks 6318
| Symbol | Value | Action |
|
Simple | Exponential | |
| RSI(14) | 55.876 | Buy | MA5 | 6274.8 | 6289.92 | |
| STOCH(9,6) | 39.653 | Sell | Buy | Buy | ||
| STOCHRSI(14) | 93.922 | Overbought | MA10 | 6278.12 | 6287.61 | |
| MACD(12,26) | -9.18 | Sell | Buy | Buy | ||
| ADX(14) | 38.145 | Sell | MA20 | 6299.86 | 6292.63 | |
| Williams %R | -24.074 | Buy | Buy | Buy | ||
| CCI(14) | 71.174 | Buy | MA50 | 6296.1 | 6284.74 | |
| ATR(14) | 22.2857 | High Volatility | Buy | Buy | ||
| Highs/Lows(14) | 14.5 | Buy | MA100 | 6248.61 | 6276.46 | |
| Ultimate Oscillator | 56.572 | Buy | Buy | Buy | ||
| ROC | 0.059 | Buy | MA200 | 6276.11 | 6264.86 | |
| Bull/Bear Power(13) | 48.6 | Buy | Buy | Buy |
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