On weak global cues market to slightly lower with negative bias for the morning session of trading and thereafter from the lower levels pull back is expected during the midsession if nifty holds above 4900 level.
Yesterday nifty traded weak and was unable to hold at higher levels but closed below well above the 5000 mark indicating further weakness. Overall the market looks weak for now with a strong support at 4910 levels, Yesterday nifty did touch 4960 levels but did not breach the 4950, in case today if nifty breaks the 4950 then can test 4900 levels which the strong support level.
If nifty closes below 4900 then don’t remain long in the market as nifty can test the 4800 mark in the coming days.
The Present correction will give an opportunity to buy some movementum good stocks like ROLTA, POLARIS TATAMOTORS, ANDHRA BANK & DENA BANK
Today in the intraday nifty to trade in the range 4910-5000 levels, either side break to give a new direction to the market.
Technically nifty can take support at 4940/4910/4850/ and resistance at 4980/5000 /5050 for the day.
THE FOLLOWING STOCKS CAN BE SOLD FOR SHORT-TERM GAINS.
UNTITECH < 81 SL 84 TGT 75
RNRL < 71 SL 74 TGT 65
Have a nice trading day.
BSE, NSE Stock Ticker, India
Thursday, November 19, 2009
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