Archives : DAILY MARKET OUTLOOK : 28/10/2009

DAILY MARKET OUTLOOK : 28/10/2009.

Market sold off yesterday on strong volumes. Once again it has just halted above the 50dma and it will be interesting to see whether this level holds or not. Strong support exists in the zone of Sensex 16119-16089 and Nifty 4786-4767.

Sensex Resistance 16419-16558-16695. Support 16269-16119-15957.

Nifty Resistance 4863-4906-4956. Support 4812-4786-4743.

Sell SBi 2202 SL 2235 Tgt 2166-2114.

Sell Yes Bank 234 SL 240 Tgt 225-214.

Sell Rel Cap 792 SL 816 Tgt 770-748.

If the market takes support at 4780, then one can buy:

Buy Bal Chini 143 SL 140 Tgt 148-154.

Buy Infosys 2242 SL 2215 Tgt 2268-2297.


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