On positive global cues market to open at higher levels and to remain range bound during the morning session and there in the second session volatility is expected with a positive bias for the day and at higher levels selling pressure to emerge.
On muhurat day even though closed in the negative zone but it did closed above the 5100 level mark which indicates further stream left in the market. If nifty trades above the 5080 mark then it can test 5300 levels in the coming days.
Nifty to trade in the range 5120-5180 levels, either side break to give a new direction to the market, A close above 5180 can take nifty to 5300 in short-term and a close below 5080 to drag the nifty to 4950 levels in the coming days, Nifty to have support at 5120/5100/5070 and resistance at 5180/5220/5250 for the day.
IN BANKING SPACE ALLAHABAD BANK, CENTRAL BANK AND IDBI TO BE ACTIVE FOR THE DAY.
IN FERTILIZER SPACE CHAMBAL FERT, NAGARJUNA FERT AND TATACHEMICAL TO BE ACTIVE FOR THE DAY.
IN TELECOM SPACE BHARTI & IDEA TO BE ACTIVE FOR THE DAY.
NEWS COUNTERS FOR THE DAY
RELIANCE GROUP SHARES AND NTPC
The following stocks technically good for medium term
IDBI > 137, RAYMONDS > 199, NOIDA TOLL > 42,KTK BANK > 154, CHAMBAL FERT > 56, NIIT TECH >131
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, October 19, 2009
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