On weak global cues market to open down and expected to be volatile during the morning session of trading and thereafter can bounce back from the lower levels in the second session of the day.
Yesterday nifty corrected ,but still holds its support level of 4900, Today the 4900 mark should be the strong support level, If nifty breaks the these level then can test the 4780 levels in the next few trading sessions and thereafter it can bounce back to 5100 levels.
Till the F&O settlement nifty to trade in the range 4780-5150 level and expected to be volatile till then. Also like to inform you that a break below 4780 can further weaken the nifty to the extent of 4500.
Today in the intraday nifty to trade in the range 4940-5060 levels, either side break to give a new direction to the market.
Yesterday I have advised to book partial profits those who have booked profit can re-enter at 4900 levels.
Technically nifty can take support at 4920/4900/4850 and resistance at 4980/5000/5050 for the day.
THE FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS AT 4900 LEVELS.
NIIT TECH @131 SL 128
IDBI@118 SL 112
IFCI @ 44 SL 41
ASHOK LEYLAND @50 SL 47
VOLTAS @ 155 SL 152
Have a nice trading day.
BSE, NSE Stock Ticker, India
Thursday, November 12, 2009
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