Friday, October 30, 2009
DAILY MARKET OUTLOOK - 30 Oct 2009
Nifty (4751): immediate support is at 4750 the crucial support for the Nifty is at 4699-4651 and resistance is at 4785-4850-4961.
Sensex (16053): The crucial support for the Sensex is 15860 and the resistance is at 16144-16380-16721
Global weakness, end of October F&O series saw volatility on the Indian market that ended at the low point of the day but on heavy volumes. The recovery in the day was seen as a short covering rally. Experts believe there could be a bounce in the near-term after 8 straight days of correction and this could be used as an opportunity to book profits. Sensex shut shop at 16052, down 230 points and Nifty was at 4750, down 75 points from the previous close. CNX Midcap index was down 1.25% and BSE Smallcap index was down 1.29%. There was heavy selling in realty stocks, index down 6%. The market breadth was in the negative with advances at 317 against declines of 958 on the NSE. Top Nifty gainers included Mahindra & Mahindra, BPCL and Ranbaxy while losers were DLF, RCom and Reliance Capital.
we said ‘the day ahead is an F&O expiry day and 4800 is the region where short covering should come in…volatility is expected and stops could get triggered and 4780 has now become a crucial support’ the market traded volatile and weak and looks the market should take support near the 4699 zone on the last day of the week…
Free Intraday Tips
SUNDRMFAST ( Sundaram Fasteners Ltd )
BUY ABOVE 46.6 sl-44.9 tgt1-48.10 tgt2-49.30 tgt3-50.50 tgt4-52
SELL BELOW 44.5 sl-45.2 tgt1-43.4 tgt2-42.50 tgt3-41 tgt4-40
ZEENEWS ( Zee News Limited )
BUY ABOVE 55 sl-53.4 tgt1-57 tgt2-59 tgt3-62 tgt4-64
SELL BELOW 52.7 sl-54 tgt1-50 tgt2-48 tgt3-46 tgt4-44
FSL ( Firstsource Solutions Limited )
BUY ABOVE 31.7 sl-31 tgt1-33 tgt2-34.5 tgt3-36 tgt4-37
SELL BELOW 30.5 sl-31.2 tgt1-29.6 tgt2-28.80 tgt3-28 tgt4-27.5
VOLTAS ( Voltas Ltd )
BUY ABOVE 154 sl-151 tgt1-158 tgt2-162.5 tgt3-165 tgt4-167
SELL BELOW 150.5 sl-152 tgt1-147.5 tgt2-145 tgt3-142.50 tgt4-141
GAIL ( Gail (India) Ltd )
BUY ABOVE 345 sl-339 tgt1-349 tgt2-355 tgt3-361 tgt4-366
SELL BELOW 337 341 sl-334 tgt2-329 tgt3-322 tgt4-315
THINKSOFT ( Thinksoft Global Services Limited )
BUY ABOVE 222 sl-214 tgt1-229 tgt2-234 tgt3-241 tgt4-250
SELL BELOW 212 sl-215 tgt1-207 tgt2-202 tgt3-197 tgt4-194
Sensex (16053): The crucial support for the Sensex is 15860 and the resistance is at 16144-16380-16721
Global weakness, end of October F&O series saw volatility on the Indian market that ended at the low point of the day but on heavy volumes. The recovery in the day was seen as a short covering rally. Experts believe there could be a bounce in the near-term after 8 straight days of correction and this could be used as an opportunity to book profits. Sensex shut shop at 16052, down 230 points and Nifty was at 4750, down 75 points from the previous close. CNX Midcap index was down 1.25% and BSE Smallcap index was down 1.29%. There was heavy selling in realty stocks, index down 6%. The market breadth was in the negative with advances at 317 against declines of 958 on the NSE. Top Nifty gainers included Mahindra & Mahindra, BPCL and Ranbaxy while losers were DLF, RCom and Reliance Capital.
we said ‘the day ahead is an F&O expiry day and 4800 is the region where short covering should come in…volatility is expected and stops could get triggered and 4780 has now become a crucial support’ the market traded volatile and weak and looks the market should take support near the 4699 zone on the last day of the week…
Free Intraday Tips
SUNDRMFAST ( Sundaram Fasteners Ltd )
BUY ABOVE 46.6 sl-44.9 tgt1-48.10 tgt2-49.30 tgt3-50.50 tgt4-52
SELL BELOW 44.5 sl-45.2 tgt1-43.4 tgt2-42.50 tgt3-41 tgt4-40
ZEENEWS ( Zee News Limited )
BUY ABOVE 55 sl-53.4 tgt1-57 tgt2-59 tgt3-62 tgt4-64
SELL BELOW 52.7 sl-54 tgt1-50 tgt2-48 tgt3-46 tgt4-44
FSL ( Firstsource Solutions Limited )
BUY ABOVE 31.7 sl-31 tgt1-33 tgt2-34.5 tgt3-36 tgt4-37
SELL BELOW 30.5 sl-31.2 tgt1-29.6 tgt2-28.80 tgt3-28 tgt4-27.5
VOLTAS ( Voltas Ltd )
BUY ABOVE 154 sl-151 tgt1-158 tgt2-162.5 tgt3-165 tgt4-167
SELL BELOW 150.5 sl-152 tgt1-147.5 tgt2-145 tgt3-142.50 tgt4-141
GAIL ( Gail (India) Ltd )
BUY ABOVE 345 sl-339 tgt1-349 tgt2-355 tgt3-361 tgt4-366
SELL BELOW 337 341 sl-334 tgt2-329 tgt3-322 tgt4-315
THINKSOFT ( Thinksoft Global Services Limited )
BUY ABOVE 222 sl-214 tgt1-229 tgt2-234 tgt3-241 tgt4-250
SELL BELOW 212 sl-215 tgt1-207 tgt2-202 tgt3-197 tgt4-194
Labels: DAILY MARKET OUTLOOK
# posted by Incredible Inspirations Finvest Pvt. Ltd. @ 7:11 AM 
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Intraday calls tracking update
SUNDRMFAST open 47 high 48.10 tgt 1 achieved
FSL open 32 high 35.20 almost tgt3 achieved
VOLTAS open 155 high 161 almost tgt2 achieved
GAIL open 345 jigh 351 tgt1 achieved
THINKSOFT open 224.90 high 231.50 tgt 1 achieved
SUNDRMFAST open 47 high 48.10 tgt 1 achieved
FSL open 32 high 35.20 almost tgt3 achieved
VOLTAS open 155 high 161 almost tgt2 achieved
GAIL open 345 jigh 351 tgt1 achieved
THINKSOFT open 224.90 high 231.50 tgt 1 achieved
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