Free Stock Market Trading Tips | Best Indian Stock Market Tips

After a blockbuster rally on Monday, the market opened today on a mild note with positive bias. The Sensex is down 29.87 points at 21104.34, and the Nifty is down 12.50 points at 6260.25. About 177 shares have advanced, 155 shares declined, and 203 shares are unchanged.

Asian markets joined the Wall Street sell-off with the Japan's Nikkei 225 Average falling more than 2 percent due to a sharp uptick in the yen. Hang Seng, Kospi, Straits Times and Taiwan Weighted declined marginally while Shanghai Composite gained outperformed, rising 0.5 percent.

• Indian markets closed high. Nifty, Sensex went up by 1.64% and 1.81%.
• Asia-Pacific markets traded weak on the back of US employment data.
• US ended weak. US Jobless Rate at 6.7%. Dow Futures down by 55 pts.

Indian markets traded high on Monday. The rally was largely driven by new gas pricing policy, rupee appreciation, Infosys earnings and hopes of no hike in policy rates. Asian stocks fall on weak US employment report. Nifty went up by 101.30 points, closed at 6272.75. Sensex up by 375.72 points, closed at 21134.21. EUR is trading on firm note.

TECHNICAL VIEW

NIFTY

OUTLOOK

Trend: - Consolidate

Resistance: - 6340, 6370

Support: - 6230, 6160

Strategy: - Buy On Dips

BANK NIFTY

OUTLOOK

Trend: - Consolidate

Resistance: - 11200, 11400

Support: - 10900, 10720

Strategy: - Buy On Dips

Stock Recommendation

CapitalHeight’s stock recommendation for 14/01/2014 is Tata Consultancy Services Ltd. It has been trading in uptrend. Its long term trend is up. In today’s trading session it was up by 4.34% and made all time high. On the daily chart, it made a “Rounding Bottom” pattern and has given breakout with good volume. Momentum indicator stochastic has also trading in positive territory. All the indicators are suggesting that the stock can see some upside movement in coming days. Its short term support level is at 2200. One can go for long position in this stock above 2385. The stock may test level of 2450-2500 in coming days.

Our recommendation on TCS is LONG above 2385 for the Target of 2400-2425.

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