Tuesday, October 6, 2009

 

DAILY MARKET OUTLOOK - 06th Oct 2009

Nifty (5003): the crucial zone for the Nifty is at 5000-4900. Nifty has immediate support around 4960-4930 and resistance is at 5154 then upside possible 5250-5280. Nifty psychological support is 5000 till nifty not close below 5000 there is strong support.

BSE Sensex: (16866): Immediate support around Support Around 16900 and crucial support for the Sensex is 16802-16500 and the resistance is at  17240-17450

The Nifty witnessed an intra day movement of about 84.10 points. The closing index was 1.58% down as compared to the previous closing index.On the Sensex front only seven counters could manage to stay in green zone while others ended on a red note.

as we said yesterday ‘the market has nearly achieved our targets and so I would not be surprised if the market reacts’ and the market reacted as expected with profit booking coming in…

As expected yesterday the market remained weak though out the trading session and both the indices closed in red. Both the indices stayed weak and remained in red zone for whole trading session. The good part is Nifty managed to stay above the psychological 5000 mark if the market cracks the 5000 mark in the next  trading session then we could see some more profit booking until 4900 levels…


INTRADAY CALLS

GUJALKALI ( Gujarat Alkalies And Chemicals Ltd )
BUY ABOVE 131 sl-126.8 tgt1-135 tgt2-140
SELL BELOW 126 sl-128 tgt1-122 tgt2-115

JSL ( JSL Limited )
BUY ABOVE 110 sl-107.5 tgt1-116 tgt2-122
SELL BELOW 106 sl -108.5 tgt1-100 tgt2-93

KFA ( Kingfisher Airlines Limited )
BUY ABOVE 57.5 sl-56 tgt1-59 tgt2-61.5
SELL BELOW 55.5 sl-56.5 tgt1-54.3 tgt2-52

JETAIRWAYS ( Jet Airways (india) Ltd. )
BUY ABOVE 380 sl-366 tgt1-395 tgt2-415
SELL BELOW 360 sl-365 tgt1-346 tgt2-325

ZEEL ( Zee Entertainment Enterprises Ltd )
BUY ABOVE 249 sl-243 tgt1-253 tgt2-260
SELL BELOW 241 sl-245 tgt1-238 tgt2-229

KOUTONS ( Koutons Retail (I) Ltd )
BUY ABOVE 382 sl-366 tgt1-400 tgt2-428
SELL BELOW 364 sl-368 tgt1-349 tgt2-320

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Comments:
Evening update of intra day calls

JSL open 111 made high 111 target achieved

KFA open 57.15 low 54.10 target achieved

JETAIRWAYS open 385 high 431 target 2 achieved

ZEEL open 241 low 234.30 target achieved

GUJALKALI open 131.85 made a low of 124.20

KOUTONS 381 high 391.90

the market unfolded as expected and the market bounced back from near the 4900 mark to close positive and above the 5000 mark
 

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