Wednesday, October 7, 2009

 

DAILY MARKET OUTLOOK - 07th Oct 2009

Nifty (5027): the crucial landmarks for the Nifty is at 5000-4900-4824. Nifty has immediate support around 4930-4960 and resistance is at 5154 .possible upside 5120-5250-5280.

Sensex (16959): Immediate support around 16900 and crucial support is 16802-16500 and strong resistance at 17080-17100 crossover resistance is at 17240-17450

The Nifty witnessed an intra day movement of about 113.65 points. The closing index was 0.48% up as compared to the previous closing index.
Index Futures and Index Options Index futures saw a trading volume of Rs.22145.79 crores arising out of 928302
contracts and Index options saw 1679682 contracts getting traded at a notional value of Rs.42333.21 crores. The total turnover of the Futures & Options segment of the Exchange was around Rs.88732.60 crores.

as we said ‘the market has closed above the psychological 5000 mark and if the market cracks the 5000 mark in the next trading session then we could see some more profit booking until 4900 levels’ the market unfolded as expected and the market bounced back from near the 4900 mark to close positive and above the 5000 mark…now looks like we may see some volatility and if the market goes up then there exists a strong resistance at 17080-17100.

INTRADAY CALLS

OMNITECH ( Omnitech Infosolu Ltd. )
BUY ABOVE 139 sl-133 tgt1-143 tgt2-151 tgt3-157
SELL BELOW 132 sl-135 tgt1-128 tgt2-121 tgt3- 115

DCHL( Deccan Chronicle Hold Ltd )

BUY ABOVE 135 sl-131.5 tgt1-137.5 tgt2-141
SELL BELOW 131 sl-132.5 tgt1-129.5 tgt2-126

HINDALCO( Hindalco Industries Ltd. )
BUY ABOVE 125 sl-123 tgt1-128 tgt2-130.5
SELL BELOW 122.2 sl-124 tgt1-120 tgt2-117

IRB( IRB Infrastructure Developers Limited )
BUY ABOVE 228 sl-222 tgt1- 234 tgt2-240
SELL BELOW 220 sl-223 tgt1-216.5 tgt2-209

JSWSTEEL( JSW Steel Limited )
BUY ABOVE 873 sl-858 tgt1-885 tgt2-902
SELL BELOW 855 sl-862 tgt1-845 tgt2-818

JETAIRWAYS( Jet Airways (India) Ltd. )
BUY ABOVE 420 sl-409 tg1-441 tgt2-455 tgt3-466
SELL BELOW 407 sl-412 tgt1-389 tgt2-375 tgt3-359

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Comments:
Evening update of intra day calls

OMNITECH open 144.50 high 154.40 target achieved

DCHL open 136.70 made high 140.65 target achieved

HINDALCO open 127 made high 129.95 almost target achieved

IRB star of the day open 231.20 made high 244.90 target achieved

JSWSTEEL second star of the day open 860 made high 905.85 target achieved

JETAIRWAYS open 420 made high 453.70 target achieved

the market unfolded volatile as expected and found its resistance and closed below the 5000 mark again
 

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