Archives : DAILY MARKET OUTLOOK : 29/01/2010

DAILY MARKET OUTLOOK : 29/01/2010.

The rollovers were quite low with a low cost of carry and as a result the Feb series starts on a weak note.

Once again selling pressure will be seen around 4920-4943 levels. Bears will watch any rise for a shorting opportunity.

For today all eyes will be on the credit policy. The banking and financial stocks already show that the market has discounted a CRR hike of 50bps. There will further panic if the Repo or Reverse Repo is hiked.

Sensex Resistance 16435-16524-16635. Support 16134-16058-15957..

Nifty Resistance 4906-4929-4943. Support 4815-4783-4743.

Sell HDFC Bank 1593 SL 1610 Tgt 1570-1539.

Sell L&T 1431 SL 1454 Tgt 1403-1370.

Sell ABNuvo 839 SL 863 Tgt 811-782.

Sell Sterlite 765 SL 782 Tgt 735-710.

Sell JP Ass 134 SL 137 Tgt 130-126.


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