Archives : DAILY MARKET OUTLOOK : 22/12/2009

DAILY MARKET OUTLOOK : 22/12/2009.

Strong Global and Asian markets will make sure that our market open higher. But the question will be sustainability.

The short term trend will turn up only if the Nifty is able to close above the 50dma (5001). Till then it will remain a Sell on Rise market.

For today a trader should sell at higher levels around Nifty 4980-4991 keeping a stop loss of closing level of Nifty above 5010. Or if not sure then avoid trading for today.

Sensex Resistance 16657-16733-16882. Support 16553-16494-16376..

Nifty Resistance 4968-4980-4991-5020. Support 4934-4904-4866.

Please Sell at Higher Levels:

Sell Patel 433 SL 441 Tgt 422-411.

Sell Rel Cap 804 SL 816 Tgt 792-780.

Sell DLF 350 SL 357 Tgt 344-336.

Some Stocks that are showing positive build up:

Buy Sasken 184 SL 180 Tgt 192-197.

Buy IVRCL 348 SL 342 Tgt 355-360.

Buy Titan 1377 SL 1361 Tgt 1411-1437.


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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