On mixed global cues market to open at slight 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 Friday nifty reacted from the higher levels but unable to sustain at higher levels and at the same time did not break its strong support of 4950 levels Today if nifty holds above 5012 fresh rally can be seen till 5080 levels and on the other hand if breaks 4970 levels then can test 4930 levels in the intraday and thereafter a reversal can be seen from the lower levels.
Nifty to trade in the range 4920-5012,either side break to give a new direction to the market, A close above 5080 can take the nifty to 5200 levels in short-term and on the other hand a close below 4900 can drag the nifty to 4790 levels in the coming days. Nifty to have support at 4970/ 4940/ 4905 and resistance at 5012/5050/5080 for the day.
IN PHARMA SPACE DIVI’S LAB, DR.REDDY AND ORCHID TO BE ACTIVE
IN FMGC SPACE DABUR, ITC AND BATA TO BE ACTIVE
IN BANKING SPACE SYNDICATE BANK, INDIAN BANK AND DENA BANK TO BE ACTIVE
The following stocks technically good for medium term.
INSECTICIDES >81, DABUR >152, IDBI > 131, SATYAM >112, GEOJIT >42, ITC >267
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, October 25, 2009
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