Archives : DAILY MARKET OUTLOOK : 10/05/2010

DAILY MARKET OUTLOOK : 10/05/2010.

There is a relief rally in the Asian markets on the back of Greece package being approved and that will be reflected in our market as well.

Expect the market to bounce back in line with the global markets, but that will notchange the intermediate downtrend. The Nifty will face strong resistance around 5110-5115 levels. Only a close above the 50dma (5195) will change the intermediate trend from down to up.

A good strategy for the traders is to wait out for today and observe from the sidelines as to where the market is closing.

Sensex Resistance 16876-16980-17195. Support 16681-16647-16599.

Nifty Resistance 5070-5110-5137. Support 4984-4961-4943.


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.

Copyright © 2000 - 2018 Jatin Sanghavi. All rights reserved.
No part of the material on this website may be reproduced or distributed in any forms or by any means, electronics or mechanical without the written permission of the author.
Sitemap