On mixed global cues market to open flattish note and expected to be volatile during the morning session of trading and thereafter will take the direction according to the release of the IIP data from the midsession.
Yesterday nifty breached its strong resistance 4950 levels and continued to move on the upper side and closed above the 5000 mark and hope will continue to do so till 5100 mark, But one has to be cautious due to the IIP data releasing today and I advise to book partial profits once the market opens today in the morning sessions itself.
Today in the intraday nifty to trade in the range 4940-5060 levels, either side break to give a new direction to the market.
Technically nifty can take support at 4980/4950/4850 and resistance at 5020/5050/5100 for the day.
IN BANKING SPACE DENA BANK, IDBI BANK UCO BANK TO BE ACTIVE FOR THE DAY.
IN IT SPACE INFOSYS, NIIT TECH, POLARIS & FSL TO BE ACTIVE FOR THE DAY.
THE FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS.
NIIT TECH >144 SL 140.5 TGT 156
DCB >38 SL 37 TGT 44
SCI >152 SL 148 TGT 165
DENA BANK > 72 SL 68 TGT 78
ASHOK LEYLAN >52 SL 51.5 TGT 56
Have a nice trading day.
BSE, NSE Stock Ticker, India
Wednesday, November 11, 2009
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