On mixed global cues market to open flattish with negative bias for the morning session of trading and thereafter pull back is expected from the lower levels during the midsession, one has to be cautious at higher levels for intraday.
Yesterday nifty traded weak and was unable to hold at higher levels but closed well 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.
If nifty closes above 5000 one can stay invested in the market.
Nifty has strong support at 5000-4980 levels, if nifty crosses above the 5070 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 4980-5070 levels, either side break to give a new direction to the market.
Technically nifty can take support at 5040/5010/4980 and resistance at 5070/5090 /5120 for the day.
IN OIL & GAS SPACE CHENNAI PERTO, MRPL & ONGC LOOKS GOOD.
IN CHEMICAL & FERTILIZER CHAMBAL, TATACHEM & DCW LOOKS GOOD.
IN METAL SAIL, TATASTEEL AND JSW LOOKS GOOD.
THE FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS .
SUZLON >71 SL 70 TGT 78-81
RUCHI SOYA >88 SL 84 TGT 97
SAIL >188 SL 184 TGT 200
GUJ.NRE >68 SL 65 TGT 76
PRAJ >94 SL 91 TGT 102
POLARIS > 178 SL 174 TGT 185
Have a nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, November 17, 2009
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