Archives : DAILY MARKET OUTLOOK : 21/12/2009

DAILY MARKET OUTLOOK : 21/12/2009.

Market has closed below the 50dma. The key Trendline Support for Sensex is broken but it is still not broken for the Nifty. So it will be interesting to see whether we are able to sustain that level of 4968.

Strategy should be to buy Pharma IT and sell RIL, Financial and Real Estate stocks.

Sensex Resistance 16812-16899-17079. Support 16667-16605-16494..

Nifty Resistance 5014-5043-5079. Support 4971-4932-4904.

Sell RiL 1007 SL 1021 Tgt 987-971.

Sell DLF 357 SL 367 Tgt 344-331.

Sell Axis 934 SL 944 Tgt 918-894.

Sell Rel Cap 818 SL 833 Tgt 802-780.

Sell ICICI 809 SL 818 Tgt 794-773.

Sell LiTL 536 SL 542 Tgt 525-513.

Some Pharma and IT companies look positive:

Buy Dr Reddy 1207 SL 1184 Tgt 1237-1268.

Buy TCS 727 SL 718 Tgt 735-741.

Buy Mphasis 725 SL 716 Tgt 736-747.

Buy Lupin 1519 SL 1494 Tgt 1549-1589.

Buy MRF 6626 SL 6335 Tgt 6901-7310.


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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