On global cues, our market to open on the higher side and expected to be volatile for the day.
Yesterday nifty closed in the red, but it did close above 4600 level which is a good sign for the rally to continue but one has to be cautious at if nifty trades below 4560 levels.
Nifty to trade in the range 4560 – 4640 for the day, either side break to give a new direction to the market and till budget nifty to trade in the range 4280-4850 levels.
Traders can take short-term positions in stocks like Nag Feti, Chambal ferti, Moser baer and Noida toll in small lots.
POWER GRID looks good on the charts, Buy above 123 with a stop loss of 119.5 for a target of 136 in very short-term.
Yesterday we have taken long positions in Power Grid and Nagarjuna Fetilizer.
Tehnically nifty to take support at 4610/4580/4560 and resistance at 4680/4720/4740 for the day
BSE, NSE Stock Ticker, India
Thursday, June 11, 2009
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