On strong global cues market to open slightly at higher levels and to hold the higher levels for the day with some volatility during the midsession but overall market looks bullish for the day.
Yesterday nifty closed above the 5050 mark indicating further up trend in the market for the next few trading sessions and has the potential to test the 5200 mark now with minor intraday correction with a strong support of 4980 level.
Nifty has strong support at 5000-4980 levels, If nifty crosses above the 5080 level today then can test 5150 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 4980-5080 levels, either side break to give a new direction to the market.
Technically nifty can take support at 5040/5010/4980 and resistance at 5060/5080 /5120 for the day.
IN BANKING SPACE INDIAN BANK, DENA BANK AND DCB LOOKS GOOD.
IN POWER TATA POWER, RPOWER AND GVK POWER LOOKS GOOD.
IN OIL & GAS ONGC AND PERTO NET LOOKS GOOD.
THE FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS AT 5000 LEVELS.
RCOM > 178 SL 174 TGT 186
ANSAL INFRA > 71 SL 68 TGT 86
SUZLON >71 SL 70 TGT 78-81
RUCHI SOYA >88 SL 84 TGT 97
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, November 16, 2009
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Nice to see your blog about sharemarket tips.
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