Friday, October 9, 2009

 

DAILY MARKET OUTLOOK - 09th Oct 2009

Nifty (4989): The crucial landmarks for the Nifty is at 5000-4900-4824. Nifty has immediate support around 4930-4960 then 4880 and resistance is at 5070-5154 .possible upside 5055-5120-5250-5280.

Sensex (16844): 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 71.30 points. The closing index was 0.33% up as compared to the previous closing index.

we said ‘but the important thing to remember is 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’ the market has traded in a very tight sideways zone and has managed to stay above the 4900 mark…now this 4900 mark is a very crucial support for the market for today and for the week and a big day ahead of us is not ruled out either UP or DOWN and the market can still be considered UP as long as 4900 holds…

INTRADAY CALLS

SPARC ( Sun Pharma Advanced Research Company Limited )
BUY ABOVE 93 sl-89.2 tgt1-96.5 tgt2-98 tgt3-101
SELL BELOW 88.5 sl-90 tgt1-86.5 tgt2-82 tgt3-78

MLL ( Mercator Lines Limited )
BUY ABOVE 65 sl-63 tgt1-66.5 tgt2-68 tgt3-70
SELL BELOW 62.5 sl-63.5 tgt1-61.5 tgt2-59.5 tgt3-58

ADHUNIK ( Adhunik Metaliks Ltd. )
BUY ABOVE 120 sl-116 tgt1-122.5 tgt2-125 tgt3-130
SELL BELOW 115 sl-117 tgt1-112.5 tgt2-109 tgt3-106

HDIL ( Housing Development And Infrastructure Ltd )
BUY ABOVE 365 sl-355 tgt1-372 tgt2-380 tgt3-392
SELL BELOW 353 sl-357 tgt1-347 tgt2-340 tgt3-333

GODREJIND ( Godrej Industries Ltd )
BUY ABOVE 211 sl-205 tgt1-214 tgt2-218 tgt3-222
SELL BELOW 204 sl-206 tgt1-201 tgt2-197 tgt3-192

JPASSOCIAT ( Jaiprakash Associates Ltd )

BUY ABOVE 244 sl-241 tgt1-250 tgt2-255 tgt3-261
SELL BELOW 239 sl-242 tgt1-235 tgt2-231 tgt3-225

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Comments:
Evening update of intra day calls

SPARC open 95.15 high 98.40 target2 achieved

MLL open 65.60 high 66.70 target1 achieved

ADHUNIK open 119.70 made low of 113 almost tgt1 achieved

HDIL open 367.75 made high 373.80 target1 achieved

JPASSOCIAT open 245.85 made high 247.60 target1 achieved

GODREJIND open 211 made high 215.50 target1 achieved

We were expecting a big move either up or down and the market cracked but the market has managed to stay above the crucial 4900 mark
 

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