Market Out Look 01-OCT-2009

On mixed global cues market to open flattish with negative bias and expected to be volatility in the afternoon trading session due to the truncated trading week.

The BHARATI-MTN deal and the positive inflation data to boost the sentiment during the first hour of trading.

If holds the 5000 levels can test 5150 today itself and however one has to be cautious at higher levels and below 5000 levels nifty can weaken further, at this market condition traders should maintain a cautious approach at higher levels and one has to lighten their long positions and re-enter at lower levels.

Nifty to trade in the range 4950-5150 levels, a break below either side to give a new direction to the market, A close above 5150 will take the market to 5250 levels in the coming days and a close below 4950 to drag the nifty to 4790 in the coming days, Nifty to have support at 5020/4980/4950 and resistance at 5090/5150/5180 for the day.

Today PHARMA & IT stocks to be will be in limelight.

Watch for GLEMMARK & 3IINFO for the day.

The following are the scrip’s to buy for medium –term gains.

GMRINFARA >141, >IDBI >123 , DCB >42 , 3IINFO> 91, GTL INFRA >42, PETRONET >76,NDTV>165

Have a nice trading day.