As the US market ended on the higher side and the Asian markets too on the positive side, Our market to open on firm note and to trade on the positive side during the morning session of trading and thereafter at higher levels some kind of selling pressure can be expected during last hour of trading for the day.
Yesterday’s pull shows strength in the market, If nifty today trades above the 4920 then can test 4950-4980 in the morning session itself, for the rally to continue further nifty should close above 4980 to test the 5150 mark in the next few trading sessions, A close below 4850 to weaken the nifty to 4720 levels.
Today in the intraday nifty to trade in the range 4850-4980 levels, either side break to give a new direction to the market.
Buy on dips will be the best strategy in the market condition for the next few trading sessions.
In yesterday’s trading the Banking, Hotel, IT & FMGC sectors performed well and I expect the same sector to do well in today’s trading too.
Activity was seen in Large & Small Pharma stocks and Auto ancillary stocks.
IN PHARMA SPACE DIVIS LAB’S AND NATCO TO BE ACTIVE FOR THE DAY.
IN IT SPACE NIIT TECH, POLARIS & 3IINFO TO BE ACTIVE FOR THE DAY.
IN FMGC ITC, DABUR & MARICO TO BE ACTIVE FOR THE DAY.
THE FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS.
NIIT TECH >144 SL 140.5 TGT 156
POLARIS > 165 SL 161 TGT 178
3IINFO >84 SL 81 TGT 94
DABUR >158 SL 155 TGT 171
DENA BANK > 69 SL 67.5 TGT 74
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, November 9, 2009
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