On global cues market to open weak and expected to be range bound with negative bias during the morning session, at lower levels bounce back is expected for the day, for the rally to continue nifty should hold close above 5080 levels.
Yesterday market opened on a strong note but could not cross the 5170 mark indicating strong resistance at this level.
Now nifty is range bound with resistance at 5180 and support at 5080 levels, one can take positions in small lots with a stop loss of 5050.
Nifty to trade in the range 5050-5250 in short-term, either side break to give a new direction to the market.
Today in the intraday nifty to trade in the range 50800-5180 levels, either side break to give a new direction to the market.
Technically nifty can take support at 5120/5100/5080/ and resistance at 5160/5180 /5200 for the day.
IN BANKING SPACE FEDERAL BANK & SYNDICATE BANK LOOKS GOOD.
IN OIL SAPCE CHENNAI PETRO, MRPL, IOC LOOKS GOOD.
IN TEXTILE BRFL & CENTURY TEXT LOOK GOOD.
IN SUGAR SPACE PRAJ IND & BAJAJ HIND LOOKS GOOD.
FOLLOWING STOCKS CAN BE BOUGHT FOR SHORT-TERM GAINS.
BAJAJ HIND >210 SL 202 TGT 222
Have a nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, December 8, 2009
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