The Winning Streak Continues and Stock Trading Tips - By: Kiran Kumar Reddy

India's benchmark index evidence 2014 closing high on Wednesday, ahead for a third uninterrupted session as drug makers rallied on cheerfulness about their quarterly earnings. The Bombay Stock Exchange Sensex closes at 21338 were rose by 87 points or raise 0.41 percent. Bse Mid cap Index gained by 0.20 percent and the Bse Small Cap Index rose by 0.28 percent on yesterday day trade.

Sensex Major Resistance on Upside at 21420-21500-21582

Sensex Major Support on Downside at 21215-21091-21010

Trend Deciding Level at 21296

Nifty Index Major Resistance on Upside at 6439-6537-6635

Nifty Index Major Support on Downside at 6154-5967-5869

Trend Deciding Level at 6252

Major Headlines

Finolex Cables wins order worth Rs 200 cr

Alstom T&D; to supply transformer package for RIL's Jamnagar refinery

Torrent Pharma up 12% on strong Q3 numbers

Bank of India Q3 results on Jan 30, 2014

Punjab National Bank Q3 results on Jan 31, 2014

TV18 Broadcast Completion of Acquisition of ETV Channel

Bharti Airtel is likely to split its Africa tower business sale: Sources

Suzlon to list REpower in London Stock Exchange by August 2014: Source

HDFC Q3 Net Profit at Rs 1278 Cr versus Rs 1140.1 Cr, YoY, Total Income at Rs 6,020 Cr Vs Rs 5,242 Cr

Indian Indices

The Nse Nifty Index closed in the positive note yesterday, were up by 25 points and closes at 6338. In excess of the next couple of days it is expected to trend is up till 6415. In this period the key support will be at 6300 and resistance will be at 6350.

Nifty has taken support approximately the previous swings low and on track forming higher tops and higher bottoms on the daily chart.

In the daily chart the index is trading above the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6257 and 6225 correspondingly. The momentum pointer is trading in optimistic mode.

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6311 and 6300 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned positive. The market breadth was positive mode yesterday with 747 advances and677 declines on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 6377-6409-6440

Nifty Future Major Support on Downside is at 6303-6261-6229

Trend Deciding Level at 6335

Bank Nifty Major Resistance on Upside at 11271-11349-11427

Bank Nifty Major Support on Downside at 11109-11025-10947

Trend Deciding Level is at 11187

5 Daily Moving Average @ 6307

50 Daily Moving Average @ 6204

200 Daily Moving Average @ 5943

5 Days Relative Strength Index @ 69 and 14 Days Relative Strength Index @ 59 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.

GLOBAL TRENDS

Gold Trading Around 1250-1240

US Dollar Index Trading Around 80-81.20

NYMEX Crude Trading Below 95-96.02

Dow Future Trading slipped 27 points on Wednesday Trade

Neutral Global Trend Seen

Major Events for Day Trading

A-Group Results- Dish TV India, Indian Bank, Cairn India, Amara Raja Batteries, Bharti Infratel and L&T; Fin. Holdings.
Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij.in) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

India's benchmark index evidence 2014 closing high on Wednesday, ahead for a third uninterrupted session as drug makers rallied on cheerfulness about their quarterly earnings The Bombay Stock Exchange Sensex closes at 21338 were rose by 87 points or raise 0

Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij.in) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

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