Sunday, November 15, 2009
DAILY MARKET OUTLOOK - 16 NOV 2009
Nifty (4999): The crucial support for the Nifty is at 4936 and logical technical targets at 5044. resistance zone is 5045-5065
Sensex (16849): The crucial support for the Sensex is at 16667 and logical technical target at 16860-17030
It was a good Friday the 13th for the Indian market that closed higher despite quiet global cues. Asian markets had a lackluster session while European markets were trading flat and our market closed with a smart rally. Sensex shut shop at 16848, up 152 points and Nifty at 4998, up 46 points from the previous close. CNX Midcap index was up 0.20% and BSE Smallcap index was up 0.69. There was good buying in auto, metal and IT stocks while realty stocks saw profit booking. The market breadth was positive with advances at 636 against declines of 624 on the NSE. Top Nifty gainers included Maruti Suzuki, SAIL and Hero Honda while losers were Suzlon, JP Associates and Power Grid.
It was a mildly volatile but positive week for the Indian market that defied consensus view of weakness. Experts believe if Nifty crosses crucial 5040-5050 levels then it is headed higher and bulls will take charge once again. This week's good figures were: Sensex and Nifty both up almost 4.3%. BSE Midcap index was up 3.8%, BSE Smallcap index up 3.3% over the week. BSE Metal index was up 7.2%, BSE IT index up 6.5%, BSE Bankex index and BSE Oil & Gas index both up 5.3%, BSE Auto index up 4%, up 2.1%, BSE FMCG index up 3%. While BSE Realty index was down 2.2%.
We said ‘technically the up trend is still intact but there is a selling pressure near the 5000 mark and an overhang of resistance near the 5044 levels and a dip to around 4900 levels is not ruled out’ the market has closed right on our resistance of 5000…. Technically the trend is still intact up and has crucial support at 4936
Free Intraday Tips
EXIDEIND ( Exide Industries Ltd )
BUY ABOVE 120 sl-116 tgt1-124 tgt2-126.5 tgt3-129 tgt4-133
SELL BELOW 115 sl-116.5 tgt1-112 tgt2-109 tgt3-107 tgt4-105
NETWORK18 ( Network 18 Fincap Ltd. )
BUY ABOVE 87 sl-83 tgt1-90 tgt2-92 tgt3-95 tgt4-98
SELL BELOW 82.5 sl-83.5 tgt1-80 tgt2-77.5 tgt3-74 tgt4-68.5
MOTHERSUMI ( Motherson Sumi Systems Ltd )
BUY ABOVE 132.5 sl-129 tgt1-135 tgt2-139 tgt3-142 tgt4-146.5
SELL BELOW 128.5 sl-130 tgt1-125 tgt2-122 tgt3-119 tgt4-115
IDFC ( Infrastructure Development Finance Company Limited )
BUY ABOVE 171.8 sl-169.2 tgt1-173.8 tgt2-176.5 tgt3-179 tgt4-182
SELL BELOW 168.5 sl-170.5 tgt1-166.5 tgt2-164 tgt3-162 tgt4-159
TCS ( Tata Consultancy Services Limited )
BUY ABOVE 673 sl-663 tgt1-680 tgt2-690 tgt3-701 tgt4-715
SELL BELOW 660 sl-666 tgt1-651 tgt2-643 tgt3-635 tgt4-629
JSWSTEEL ( JSW Steel Limited )
BUY ABOVE 900 sl-870 tgt1-925 tgt2-940 tgt3-955 tgt4-975
SELL BELOW 865 sl-875 tgt1-849 tgt2-830 tgt3-818 tgt4-795
Sensex (16849): The crucial support for the Sensex is at 16667 and logical technical target at 16860-17030
It was a good Friday the 13th for the Indian market that closed higher despite quiet global cues. Asian markets had a lackluster session while European markets were trading flat and our market closed with a smart rally. Sensex shut shop at 16848, up 152 points and Nifty at 4998, up 46 points from the previous close. CNX Midcap index was up 0.20% and BSE Smallcap index was up 0.69. There was good buying in auto, metal and IT stocks while realty stocks saw profit booking. The market breadth was positive with advances at 636 against declines of 624 on the NSE. Top Nifty gainers included Maruti Suzuki, SAIL and Hero Honda while losers were Suzlon, JP Associates and Power Grid.
It was a mildly volatile but positive week for the Indian market that defied consensus view of weakness. Experts believe if Nifty crosses crucial 5040-5050 levels then it is headed higher and bulls will take charge once again. This week's good figures were: Sensex and Nifty both up almost 4.3%. BSE Midcap index was up 3.8%, BSE Smallcap index up 3.3% over the week. BSE Metal index was up 7.2%, BSE IT index up 6.5%, BSE Bankex index and BSE Oil & Gas index both up 5.3%, BSE Auto index up 4%, up 2.1%, BSE FMCG index up 3%. While BSE Realty index was down 2.2%.
We said ‘technically the up trend is still intact but there is a selling pressure near the 5000 mark and an overhang of resistance near the 5044 levels and a dip to around 4900 levels is not ruled out’ the market has closed right on our resistance of 5000…. Technically the trend is still intact up and has crucial support at 4936
Free Intraday Tips
EXIDEIND ( Exide Industries Ltd )
BUY ABOVE 120 sl-116 tgt1-124 tgt2-126.5 tgt3-129 tgt4-133
SELL BELOW 115 sl-116.5 tgt1-112 tgt2-109 tgt3-107 tgt4-105
NETWORK18 ( Network 18 Fincap Ltd. )
BUY ABOVE 87 sl-83 tgt1-90 tgt2-92 tgt3-95 tgt4-98
SELL BELOW 82.5 sl-83.5 tgt1-80 tgt2-77.5 tgt3-74 tgt4-68.5
MOTHERSUMI ( Motherson Sumi Systems Ltd )
BUY ABOVE 132.5 sl-129 tgt1-135 tgt2-139 tgt3-142 tgt4-146.5
SELL BELOW 128.5 sl-130 tgt1-125 tgt2-122 tgt3-119 tgt4-115
IDFC ( Infrastructure Development Finance Company Limited )
BUY ABOVE 171.8 sl-169.2 tgt1-173.8 tgt2-176.5 tgt3-179 tgt4-182
SELL BELOW 168.5 sl-170.5 tgt1-166.5 tgt2-164 tgt3-162 tgt4-159
TCS ( Tata Consultancy Services Limited )
BUY ABOVE 673 sl-663 tgt1-680 tgt2-690 tgt3-701 tgt4-715
SELL BELOW 660 sl-666 tgt1-651 tgt2-643 tgt3-635 tgt4-629
JSWSTEEL ( JSW Steel Limited )
BUY ABOVE 900 sl-870 tgt1-925 tgt2-940 tgt3-955 tgt4-975
SELL BELOW 865 sl-875 tgt1-849 tgt2-830 tgt3-818 tgt4-795
Labels: DAILY MARKET OUTLOOK
# posted by Incredible Inspirations Finvest Pvt. Ltd. @ 7:30 PM 
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