Archives : DAILY MARKET OUTLOOK : 26/10/2009

DAILY MARKET OUTLOOK : 26/10/2009.

Market is developing a bearish pattern and strong selling pressure will be visible at higher levels. So one needs to reduce their positions at higher levels. Nifty has developed strong resistance in the zone of 5053-5077.

Sensex Resistance 16883-16994-17092. Support 16765-16721-17622.

Nifty Resistance 5017-5054-5077. Support 4983-4968-4934.

Sell Rel Cap 873 SL 899 Tgt 850-829.

Sell RiL 2047 SL 2084 Tgt 1988-1943.

Sell Tata Steel 529 SL 542 Tgt 510-493-484.

Sell ONGC 1175 SL 1193 Tgt 1158-1135.

At Lower Levels one can Buy:

Buy LiC Hsg 853 SL 835 Tgt 865-877.

Buy Bajaj Hind 232 SL 226 Tgt 241-251.

Buy Bal Chini 137 SL 135 Tgt 143-147.

Buy Hind Zinc 933 SL 903 Tgt 963-983.


Disclaimer : The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness.

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