On global cues market to open gap up and to trade range bound during the morning session and thereafter in the second session at higher level selling pressure to emerge with high volatility.
Since the market is in over sold zone some kind of bounce back is expected today, but at higher levels selling pressure to emerge and nifty to face tough resistance at 4690-4720 levels, however in the morning session if nifty trades above the 4620 then the rally will strengthen and nifty can the 4700 level.
Long-term investors are advised to wait for another two trading sessions before taking any long positions, If at all they want to take some position they can buy SABERO ORGANICS,IFB IND, PSL HOLDING, HOTEL LEELA, 3IINFO, SUBEX, INSECTICIDES ,ISPAT IND, NDTV & INTERNATIONAL TRAVEL HOUSE for long-term .
IN TECHNOLOGY SPACE INFOSYS , TCS & WIPRO TO BE ACTIVE FOR THE DAY.
IN AUTOMOTIVE SPACE TATAMOTORS ,ASHOK LEYLAN & MARUTI TO BE ACTIVE FOR THE DAY.
IN PHARMA SPACE SUN PHARMA, DIVI’S LABS & BIOCON TO BE ACTIVE FOR THE DAY.
POSITION CAN BE TAKEN IN THE FOLLOWING STOCKS FOR SHORT-TERM.
IDBI > 106 SL 102 TGT 112
ICSA >157 SL 155 TGT 165
FSL >30 SL 29 TGT 34
Have nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, November 3, 2009
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