On mixed global cues market to open lower with negative bias during the morning session, if nifty trades below 5020 level then further weakness is expected in the market.
On Friday nifty pulled back from the 4920 levels and broke all the resistance level of the day. Looks as if the correction is halted at this level and attempting to touch the 5200 level, this will happen only when nifty trades above the 4900 level.
Now the entire trend looks up and any decline should be treated as a buying opportunity, in between some correction will be there due to global cues.
Today in the intraday nifty to trade in the range 5020-5080 levels, either side break to give a new direction to the market.Technically nifty can take support at 5020/4980/4950/ and resistance at 5070/5090 /51200 for the day.
IN BANKING SPACE DENA BANK, VIJAYA BANK & ANDHRA BANK TO BE ACTIVE FOR THE DAY.
IN MEDIA SPACE NDTV & TVTODAY TO BE ACTIVE FOR THE DAY.
THE FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS.
IDBI >128 SL 125 TGT 136
DENA BANK >81 SL 78 TGT 88
ANDHARA BANK >123 SL 121 TGT 131
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, November 22, 2009
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