Friday, October 23, 2009

 

DAILY MARKET OUTLOOK - 23 Oct 2009

Nifty (4989):  Nifty has immediate support around 4980-4930 and resistance is at 5100-5183. upside possible 5100-5180

Sensex (16790): Support Around 1666-16500 resistances 17000-17185.

It was a bad day for our market on account of profit booking and global weakness. Sensex shut shop at 16789, down 219 points and Nifty is at 4988, down 75 points from the previous close. CNX Midcap index was down 1.74% and BSE Smallcap index was down 1.96%. The market breadth was negative with advances at 279 against declines of 994 on the NSE. Top Nifty gainers included HCL Technologies, HUL and ITC while losers were JP Associates, Unitech and DLF.

we said ‘technically the trends is still intact up as long 5090 holds and somehow it looks more like sideways trend’ the market weakened and breached the 5090 mark and that’s negative and I would say all is not lost as long as 4987 holds and that’s just 13 points below the strong psychological mark 5000 

We have to look on today's market as last trading session of the week & consolidation may continue. Be Cautious.

Free Intraday Tips

CAMBRIDGE ( Cambridge Solutions Limit )
BUY ABOVE 99 sl-96.3 tgt1-102 tgt2-105 tgt3-107     tgt4-111
SELL BELOW 95.5 sl-97 tgt1-92 tgt2-89.5 tgt3-87 tgt4-84

INDIAGLYCO ( India Glycols Ltd )
BUY ABOVE 147 sl-142 tgt1-151 tgt2-156 tgt3-160 tgt4-165
SELL BELOW 141 sl-143 tgt1-138 tgt2-134 tgt3-130 tgt4-125

ASHOKLEY ( Ashok Leyland Ltd )
BUY ABOVE 44 sl-43.6 tgt1-45 tgt2-46.2 tgt3-47 tgt4-48
SELL BELOW 43.3 sl-43.8 tgt1-42.5 tgt2-41.2 tgt3-40.50 tgt4- 39.80

JAYSREETEA ( Jayshree Tea And Industries )
BUY ABOVE 319 sl-316 tgt1-325 tgt2-334 tgt3-340 tgt4-345
SELL BELOW 314 sl-317 tgt1-309 tgt2-302 tgt3-295 tgt4-289

ITC ( ITC Ltd )
BUY ABOVE 248 sl-246 tgt1-253 tgt2-257 tgt3-261 tgt4-265
SELL BELOW 244 sl-247 tgt1-241 tgt2-238 tgt3-234 tgt4-230

HCLTECH ( HCL Technologies Ltd )
BUY ABOVE 328 sl-325 tgt1-331 tgt2-336 tgt3-340 tgt4-344
SELL BELOW 324 sl-327 tgt1-321 tgt2-317 tg3-314 tgt4-310

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Comments:
Intraday calls tracking update

CAMBRIDGE open 99.80 made high 103.75 target achieved

INDIAGLYCO open 148 made high 152.90 target achieved

ASHOKLEY open 43.50 made high 45.70 target achieved

JAYSREETEA open 319.45 made high 327.90 target achieved

ITC open 250.80 made high 261 target 3 achived

HCLTECH open 321 made high 335.50 almost tgt2 achieved
 

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