Excerpts of Message Sent to Premium Members Today

On Friday, Nifty could not cross the resistance of 6358 and ultimately fell down. There were sustained selling without any marked intra-day pullback. Finally Nifty_Spot settled at 6266 with a net loss of 79 points, making the sentiment turning negative. 

Nifty which bounced back from the level of 6130-6140 for the third time seems to have lost steam from the resistance of XXXX. If the Nifty continues to trade below 6240, it may attract further selling in market. Long positions should therefore be avoided, except select counters, like XXXX, etc. Nifty is now at 6169.20. 

Resistance: 6200 / 6270

Support: 6150 / 6130
US indices slumped Friday as an unexpected contraction in Chinese manufacturing in January hurt sentiment.
Asian indices declined today in line with US equities. Japan's Nikkei was among the top losers, falling 2.6% as the yen rose against the dollar.
Fundamentally speaking the share indices are seen continuing to trade with a negative bias due to sell-off in global equities. Oct-Dec earnings would be closely watched as some caution would prevail ahead of the Reserve Bank of India's monetary policy outcome Tuesday.
Join the Premium Services or my recommended Brokerage Houses (and get Paid Service Free of Charge). The point is that when the experts are finding difficulty to make money from the cash market, then I do not feel there is any scope for the beginners / novices and non-professionals, to  try there luck in the Indian equities. Cover up all you loses through some simple cash market trades.