On mixed global cues market to open flattish with positive bias during the morning session, Selling is expected in the midsession and thereafter to be volatile for the day, for the rally to continue nifty should hold above 5080 levels.
Yesterday nifty broke the resistance of 5080 and closed above 5100 indicating strength in the market but ahead of F & O settlement one has to be cautious at higher levels and our market is more influenced by the global cues these days.
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.
Till the F & O settlement nifty to trade in the range 4950-5180,either side break to give a new direction to the market.
Today in the intraday nifty to trade in the range 5080-5120 levels, either side break to give a new direction to the market.
Technically nifty can take support at 5080/5050/5000/ and resistance at 5120/5150 /5170 for the day.
IN PHARMA SPACE CIPLA, DIVIS LAB & BIOCOM TO BE ACTIVE.
IN IT SPACE NIIT TECH, POLARIS & HEXAWARE TO BE ACTIVE.
IN TEXTILES ROYMONDS, ARVIND MILL & BRFL TO BE ACTIVE.
IN CEMENT SPACE INDIA CEMENT, MADRAS CEMENT & PRISM TO BE ACTIVE.
FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS.
INDIA CEMENT >105 SL 102 TGT 112
BFRL > 198 SL 192 TGT 220
MADRAS CEMENT >110 SL 107 TGT 118
NIIT TECH > 159 SL 157 TGT 168
GODREJ IND > 199 SL 194 TGT 210
BERGER PAINT > 63 SL 60 TGT 70
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, November 23, 2009
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