On mixed global cues market to open flattish with positive bias during the morning session, Selling is expected from the midsession and thereafter to be volatile for the day, for the rally to continue nifty should hold above 5080 levels.
Yesterday nifty closed well above the support level of 5080 indicating strength in the market but ahead of F & O settlement one has to be cautious at higher levels.
Now nifty is range bound with resistance at 5150 and support at 5020 levels, one can take positions in small lots with a stop loss of 5000.
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 5050/5020/5000/ and resistance at 5120/5150 /5180 for the day.
IN BANKING SPACE DENA BANK,SYNDICATE BANK & ANDHRA BANK TO BE ACTIVE.
IN IT SPACE NIIT TECH, POLARIS & HEXAWARE TO BE ACTIVE.
IN FERTILIZER SPACE CHAMBAL & TATA CHEM TO BE ACTIVE
FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS.
BFRL > 192 SL 188 TGT 220
SRF > 188 SL 184 TGT 200
TATACHEM > 288 SL 281 TGT 310
SAIL > 198 SL 194 TGT 215
GDL >131 SL 128 TGT 141
SYNDICATE BANK >97 SL 93 TGT 104
Have a nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, November 24, 2009
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