Market outlook for 24/08/09

21-8-2009 trading shows that markets took support at nifty 4400 and closed 4528, +75 points. A good 125 points intra day rise. Dow closed at 10 month's high. FII data, F&O data, Option writings are all showing bullishness to be continued in the coming week. Hence, one may expect a breakout of nifty 4730 in the near future. Don't short in the coming weeks. Upper targets of 4800-5000-5200 may be achieved in the coming month.


Refresh your memory and see on Friday, I had written it will face Hurdle at 4483-4508.Now suppose crosses 4508 with volumes then expect Nifty Future to rally upto 4553-4571 in Intraday trade. (Just see it went to 4546.95 & closed at 4536 level)

Now, What to expect from this level of 4536?

Nifty Future will fill gap of 4552 level and after crossing this level will kiss 4571 level. Now just watch 4571 level very carefully. Above this level if trades with volumes and stays above for 5/10 minutes then watch rally upto 4624-4642 level.

Support: 3DEMA / 7DEMA will act support: 4488-4480

NIFTY Technicals:

Current Spot: 4528.80
Pivot: 4489.45
Supports: 4440 & 4351
Resistance: 4578 & 4627

BUY NIFTY ABV 4552 TGT 4596, 4622, 4656
SELL NIFTY BLW 4524 TGT 4480, 4452, 4418

Stock Idea for the Day

BUY IRB ABOVE 192 TGT 195 197 SL 189.5

BUY BHARTIARTL ABOVE 415 TGT 419 422 425 SL 412

BUY HCLTECH ABOVE 285 TGT 290 292 SL 282

BUY WOCKPHARMA ABOVE 166 TGT 170 172 SL 164.5

BUY ANSALINFRA ABOVE 68 TGT 71 73 SL 65

TATAMOTORS : BUY NEAR 433 SL 428 TARGETS 442,448

TATAMOTORS : SELL BELOW 421 SL 426 TARGETS 410,405

ACC : BUY NEAR 775 SL 768 TARGETS 788,795

ACC : SELL BELOW 758 SL 764 TARGETS 745,738

ICICIBANK : BUY NEAR 741 SL 732 TARGETS 755,764

GAIL : BUY NEAR 336 SL 330 TARGETS 346,351

BUY RELIANCE ABV 1921 SL 1914 TGT 1935,1948,1962

SELL RELIANCE BLW 1915 SL 1922 TGT 1903,1894,1880

REL INFRA BUY ABV 1097 SL 1087 TGT 1115,1125,1138

REL INFRA SELL BLW 1087 SL 1098 TGT 1075,1065,1050

BUY LITL ABV 408 SL 404 TGT 413,415,420

SELL LITL BLW 404 SL 408 TGT 398,395,390

AUROBINDO PHARMA : BUY ABOVE 690 FOR TARGETS OF 720 AND 735. SL OF 681

MNM : BUY ABOVE 800 FOR TARGETS OF 820 AND 845. SL OF 792

TATA MOTORS : BUY ABOVE 430 FOR TARGETS OF 440 AND 448. SL OF 425

Use strict STOP LOSS in each and every trade in this kind of volatile market
Thanks & Regard

Market Pulse S&P Team

http://marketpulse-snp.blogspot.com/