On strong global cues market to open slightly at higher levels 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 5180-5200 levels.
Yesterday market opened on a strong note and remained on the higher side for the entire day and managed to cross the 5120 level indicating further strength in the market.
As nifty closed well above the support level of 5120, now can test 5350 provided its holds the 5180 levels for the next two trading sessions.
Now nifty is range bound with resistance at 5200 and support at 5050 levels, one can take positions in small lots with a stop loss of 5000.
Nifty to trade in the range 5080-5180,either side break to give a new direction to the market.
Today in the intraday nifty to trade in the range 5050-5220 levels, either side break to give a new direction to the market.
Technically nifty can take support at 5100/5080/5050/ and resistance at 5150/5180 /5220 for the day.
IN FERTILIZER SAPCE CHAMBAL, TATACHEM & NAGARJUNA FERT LOOKS GOOD.
IN HOSPITALITY SPACE HOTEL LEELA AN INDIAN HOTEL LOOKS GOOD.
IN BANKING SPACE DENA BANK, UCO BANK & SYNDICAATE BANK LOOKS GOOD.
IN OIL SAPCE CHENNAI PETRO & IOC LOOKS GOOD.
FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS.
BFRL > 192 SL 188 TGT 220
CHENNAI PETRO > 221 SL 216 TGT 233
HOTEL LEELA >42 SL 40.5 TGT 50
JP HYDRO >76 SL 74 TGT 81
NOIDA TOLL >42 SL 39 TGT 48
Have a nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, December 1, 2009
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