Thursday, October 8, 2009

 

DAILY MARKET OUTLOOK - 08th Oct 2009

Nifty (4986): the crucial landmarks for the Nifty is at 5000-4900-4824. Nifty has immediate support around 4930-4960 and resistance is at 5070-5154 .possible upside 5055-5120-5250-5280.

Sensex (16806): 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 104.05 points. The closing index was 0.83% down as compared to the previous closing index.

we said ‘now looks like we may see some volatility and if the market goes up then there exists a strong resistance at 17079’ the market unfolded volatile as expected and found its resistance and closed below the 5000 mark again but the important thing to remember is that as that the market is up as long as 4900 holds and any close below the 4900 mark by the end of Friday evening will be bearish for the market in the coming days…

INTRADAY CALLS

BALRAMCHIN ( Balrampur Chini Mills Ltd )
BUY ABOVE 131.5 sl-129.7 tgt1-134 tgt2-137.5
SELL BELOW 129 sl-130.5 tgt1-127 tgt2-124

NIITTECH ( NIIT Technologies Ltd )
BUY ABOVE 131.5 sl-130 tgt1-134.5 tgt2-137
SELL BELOW 129 sl-131 tgt1-127 tgt2-124

ASAHIINDIA ( Asahi India Glass Limited )
BUY ABOVE 71.5 sl-69.4 tgt1-73 tgt2-75.10 tgt3-77
SELL BELOW 69 sl-70 tgt1-66.5    62

YESBANK ( Yes Bank Limited )
BUY ABOVE 210 sl-205 tgt1-216 tgt2-224
SELL BELOW 203 sl-206 tgt1-199 tgt2-190

BAJAJHIND ( Bajaj Hindustan Ltd )
BUY ABOVE 190 sl-187.8 tgt1-193.5 tgt2-199
SELL BELOW 187 sl-189 tgt1-184 tgt2-179

GODREJIND ( Godrej Industries Ltd )
BUY ABOVE 202 sl-198 tgt1-206 tgt2-212
SELL BELOW 197 sl-199 tgt1-193 tgt2-188





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Comments:
Evening update of intra day calls

BALRAMCHIN open 131.30 high 134.25 target achieved

NIITTECH open 132.40 made low 125 almost target2 achieved

ASAHIINDIA made high 74.30 target achieved

YESBANK open 210.85 made high 213 nearning target

BAJAJHIND open 190.10 made high 192.80 target achieved where as renetred downside and made low 185 almost target achieved double gains

GODREJIND star of teh day open 202 made high 211.20 target 2 achieved

the market has traded in a very tight sideways zone and has managed to stay above the 4900 mark…
 

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