On positive global cues market to open at higher levels thereafter to be range bound during the first hour of trading and in the second session volatility is expected for the day and at higher levels selling pressure can emerge.
Yesterday nifty has crossed the 5100 level comfortably and has closed well above that level to its strong resistance of 5120 levels. Dow has closed above 10000 levels and FII being net buyers for the last two trading sessions has changed the sentiment to bullish and now nifty can test 5250-5300 in the next few trading sessions and to happen this it has to trade above the 5150 levels for the day. Today 50 points fall in nifty will a buying opportunity for the days.
Nifty to trade in the range 5050-5150 levels, a break below either side to give a new direction to the market, A close above 5150 can take nifty to 5250-5300 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 5080/5050/5010 and resistance at 5150/5180/5210 for the day.
IN OIL SPACE RELIANCE, ONGC &CAIRN INDIA TO BE ACTIVE FOR THE DAY
IN HOTEL SPACE HOTEL LEELA & INDIAN HOTELS TO BE ACTIVE FOR THE DAY
IN INFRA SPACE GMR INFRA, PUNJ & NAGARJUNA CONSTRUCTION TO BE ACTIVE FOR THE DAY
IN FERTILIZER SPACE CHAMBAL & NAGARJUNA FERTILIZER TO BE ACTIVE FOR THE DAY
IN POWER SPACE REC & POWER GRID TO BE ACTIVE FOR THE DAY
New Counters for the day
Buy Oil sector stocks Reliance industries & cairn India.
The following stocks technically good for medium term
GMR INFRA >74, NAG CONT > 178, ASHOK LEYLAND > 42, ESCORT > 112, CAIRN INDIA >278, PRAJ IND >102
Have a nice trading day.
BSE, NSE Stock Ticker, India
Wednesday, October 14, 2009
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment