On global cues market to open at higher levels and to trade at higher levels during the morning session and there after expected to be volatility in the second session of for day, however at higher levels selling pressure to emerge.
Yesterday nifty closed marginally above 5000 levels ,Today Infosys result to show new direction the to the market nifty has a strong support at 4950 and overall looked as losing its strength, if holds above 5050 we can a rally up to 5100. At higher levels it will be make sense to book partial profits, if closed above 5100 further rally to continue till 5250 in the coming days.
Nifty to trade in the range 4950-5050 levels, a break below either side to give a new direction to the market, A close above 5100 can take nifty 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 4970/4950/4910 and resistance at 5030/5080/5120 for the day.
In IT SPACE INFOSYS & TCS to be active for the day.
In PHARMA SPACE DR.REDDY & ORCHID to be active for the day.
In TELECOM BHARTI & RCOM a technically pull back rally is expected from the lower levels.
New Counters for the day
Buy Infosys due to better guidance
The following stocks technically good for medium term
ASHOK LEYLAND>42, NEYVELI > 137, REC > 210, IDBI@123 , DCB @36, IDFC@152 , GTL INFRA @39, ISPAT@24 , RCOMM@267, Rpower @ 165
Have a nice trading day.
BSE, NSE Stock Ticker, India
Thursday, October 8, 2009
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