Market Outlook 22 Jan

Hi.

Market showed some volatility on 20th Jan and closed 3 points down on Nifty. There was no major bad signal for the next day and we saw some profit booking in some sectors.
But banking index saw huge short building.   This is also because even India is waiting for the monterary policy annoucement.

But the Chinese monetary policy came as a big bad news that intaited the much waited trigger for the downfall. Today we saw the Nifty opening gap down and maintaining its downward journey through out the day. This gives very bad signal for tomorrow. Tomorrow also we will get gap down . We might see again some selling pressure. But i would like to add don't go short now.

As i have been giving cautious advices to maintain small lots  so that  in case of such unexpected situation we don't get trapped. As the stoploss would have got triggered for small lot quantity. I even maintained that there will be breakdown sooner then the later. Even the results of L&T helped in the same. Tomorrow big RIL result will going to come.

Wait for the market to correct and start the buying in later half of the day. If i feel the Nifty is not suitable for buying even in next half then i will update in the same post. So please keep tracking this post for tomorrow.

If you can take risk then buying at second half  of tomorrow can be a good idea. But this call will  be positional call and we need to call our positions atleast for next two to three trading session.

But i will say this is chance to add L&T in your portfolio for long term bet. Add it slowly . Soon i am also going to add new section or blog for the Fundamental analysis and long term goals. As many a person dont get enough time to track the market as a trader . Those can benefit from those articles.




Now the experts have a mixed feeling :-
1:59 PM - In an F&O call, buy Nifty January futures with a target of 5240 and stop loss of 5100, says Ashwani Gujral, technical analyst, on CNBC Awaaz.

1:55 PM - In an F&O call, sell Nifty January futures with a target of 5100 and stop loss of 5200, says Hitesh Seth, technical analyst, on CNBC Awaaz. 

1:50 PM - In an F&O call, sell Nifty January futures with a target of 5000 and stop loss of 5210, says Somil Mehta, technical analyst, on CNBC Awaaz.  

1:45 PM - In an F&O call, sell Nifty January futures with a target of 5120 and stop loss of 5230, says Neera Jain, technical analyst, on CNBC Awaaz.  

1:40 PM - In an F&O call, buy Nifty January futures with a target of 5250-5290 and stop loss of 5120, says JK Doshi, technical analyst, on CNBC Awaaz.  

1:35 PM - In an F&O call, buy Nifty January futures with a target of 5180-5200 and stop loss of 5070, says Nishant Jain, technical analyst, on CNBC Awaaz.