Archives : DAILY MARKET OUTLOOK : 24/05/2010

DAILY MARKET OUTLOOK : 24/05/2010.

Ambani Bros truce is going to be the reason for todays rally. ADAG group stocks are likely tp open with a big gap up and only the lucky one will be able to catch RNRL and Rpower today. So concentrate on other Reliance stocks.

Nifty is likely to test the 200dma today at 4993. The momentum will be seen only if it sustains above the 200dma and then possibly have a crack at the resistance at 5050.

Sensex Resistance 16577-16684-16820. Support 16365-16270-16187.

Nifty Resistance 4984-5017-5051. Support 16365-16270-16187.

Buy RiL 995 SL 989 Tgt 1030-1062.

Buy ReLInfra 989 SL 978 Tgt 1040-1078-1105.

Buy PFC 288 SL 284 Tgt 294-302.

Buy Gail 453 SL 447 Tgt 461-469.

Buy Srei Infra 85 SL 83 Tgt 89-93.

Buy Strides 357 SL 344 Tgt 369-381.

At Higher Levels Brave Hearts can short the following:

Sell Tata Power 1259 SL 1280 Tgt 1230-1196.

Sell Pantaloon Ret 384 SL 394 Tgt 372-361.

Sell DLF 269 SL 280 Tgt 259-248.


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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