Wednesday, October 21, 2009

 

DAILY MARKET OUTLOOK - 21 Oct 2009

Nifty (5114): The crucial support for the Nifty is at 5090-5110 and resistance is at 5183-5219. upside possible 5180-5222

Sensex (17223):Immediate Support Around 17210  Crucial Support 17000 and Resistances 17380-17410.

It was a lackluster day of trade with a flat closing. The broader market did not perform and there was selling in oil and gas while metal stocks were shining. 
Weak global cues and profit booking put pressure on our market that closed flat on the first day of trade after a flat muhurat trading session on Diwali (Saturday). Today, Sensex shut shop at 17223, down 103 points and Nifty at 5114, down 27 points (provisional) from the previous close. CNX Midcap index was up 0.04% and BSE Smallcap index was up 0.15%. The market breadth was negative with advances at 558 against declines of 715 on the NSE. Top Nifty gainers included Hindalco, HCL Technologies and SAIL while losers were Reliance Communications, Suzlon and Mahindra & Mahindra.

The Nifty witnessed an intra day movement of about 79.30 points. The closing index was 0.53% down as compared to the previous closing index.

Index futures saw a trading volume of Rs.15651.66 crores arising out of 628722 contracts and Index options saw 1336336 contracts getting traded at a notional value of Rs.34317.58 crores. The total turnover of the Futures & Options segment of the Exchange was around Rs.74134.92 crores. Out of 179 securities, options on 112 underlying securities got traded. The total number of contracts traded was 66397 with a notional value of Rs.2299.48 crores.

we said ‘technically the trend is still intact UP but I would not rule out VOLATILITY as the market is at a very crucial juncture’ the market has achieved its target of 5154 and there is no sign of weakness as yet…technically trend is still intact up as along 5100 holds’ the market unfolded volatile first climbing up hitting our resistance of 5183 like a dot and then cracking…technically the trends is still intact up as long 5090 holds and somehow it looks more like ways trend…

Free Intraday Tips

GLOBUSSPR ( Globus Spirits Limited )
BUY ABOVE 89 sl-86 tgt1-92 tgt2-95 tgt3-97 tgt4-99 tgt5-100
SELL BELOW 84 sl-85 tgt1-82 tgt2-80 tgt3-77 tgt4-74 tgt5-72

GVKPIL ( Gvk Power & Infrastructure Limited )
BUY ABOVE 52.5 sl-51.4 tgt1-53.5 tgt2-55 tgt3-57 tgt4-58.50
SELL BELOW 51 sl-51.8 tgt1-50 tgt2-48.80 tgt3-47.70 tgt4-46.90

TRIVENI ( Triveni Engg. And Inds. Ltd )
BUY ABOVE 124 sl-122.5  tgt1-126 tgt2-128 tgt3-130 tgt4- 132 tgt5-135
SELL BELOW 121 sl-122.5     tgt1-120 tgt2-118 tgt3-116 tgt4-114 tgt5-112

SRF ( SRF Ltd )
BUY ABOVE 222 sl-215 tgt1-229 tgt2-235 tgt3-240 tgt4-245
SELL BELOW 208 sl-212 tgt1-202 tgt2-195 tgt3-190 tgt4-184

BAJAJHIND ( Bajaj Hindustan Ltd )
BUY ABOVE 238 sl-233 tgt1-242 tgt2-247 tgt3-251 tgt4-255
SELL BELOW 229 sl-232 tgt1-226 tgt2-220 tgt3-217 tgt4-214

JPASSOCIAT ( Jaiprakash Associates Ltd )
BUY ABOVE 266 sl-262 tgt1-269 tgt2-273 tgt3-276 tgt4-280
SELL BELOW 261 sl-263 tgt1-259 tgt2-255 tgt3-250 tgt-245

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Comments:
Intraday calls tracking update

TRIVENI open 124.75 made low 113.70 tgt4 achieved

SRF ( SRF Ltd ) open 218 made low 203.60 almost tgt1 achieved

BAJAJHIND both ways done open 236.80 made high 241.55 almost tgt1 achieved made low 219.50 tgt2 achieved

JPASSOCIAT both ways done open 266.50 made high 269.95 tgt1 achieved made low 253 tgt2 achieved
 

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