On strong global cues market to open at higher levels and to hold the higher levels for the day, some kind of selling may emerge during the midsession but over market looks bullish for the day.
On Friday nifty closed very close to 5000 mark indicating further up trend in the market for the next few trading sessions and has the potential to test the 5150 mark with minor intraday correction.
Nifty has strong support 4960-4940 levels, If nifty holds above the 5030 level today then can test 5100 in the next two days and this week nifty has the potential to test 5180-5200 levels.
Today in the intraday nifty to trade in the range 4940-5060 levels, either side break to give a new direction to the market.
I have advised to book partial profits those who have booked profit can re-enter if nifty holds above 5000 levels.
Technically nifty can take support at 4980/4940/4900 and resistance at 5020/5040 /5080 for the day.
THE FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS AT 5000 LEVELS.
RCOM > 175 SL 165 TGT 186
TATA STEEL >521 SL 512 TGT 540
ISPAT >21 SL 20 TGT 24
ESCORTS >110 SL 105 TGT 121
TVTODAY >102 SL 97 TGT 115
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, November 15, 2009
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