Market to open down with 40 – 50 points in nifty, Friday’s last hour of trading indicates further weakness in the market, as nifty has breached all the important levels now it can test 3800 in the next few trading sessions.
The down side from the current level is less, Investors can take position in small lots at 3800 levels and can utilizes this fall to restructure their portfolio with INFRA , FMGC , POWER , METAL and CEMENT STOCKS for long term gains.
Traders can sell SUZLON below 76 for a target price of 63 with a stop loss of 81 and sell RCOM below 235 for a target price of 210 with stop loss of 241 levels.
Nifty to range in the range 3800 – 4092, either side break to give new direction to the market.
Technically nifty to trade support at 3950/3920/3900 and resistance at 4020/4050/4092 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, July 12, 2009
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