Thursday, August 27, 2009

Market outlook for 27/08/09

So finally the month will end and this uncertainty will die with it – where do we go now? There are two equally convincing proposals that are being projected as what will be – for the next month. One say that the markets will breakout on the upside and go on to test atleast 4850 level at the very least and the second say that the markets will correct sharply and we will see levels much lower than we have imagined. As I see it the bullish version is the one that is buying more credibility with more and more people convinced that the markets are getting into the safe zone. How safe? – only time will tell. The factors favouring the upswing are – rising wedge, closing above the Psychological barrier of 4650, inverse head and shoulders, majority of the indicators that I follow. And that in favour of the bears are – no meaningful correction for a long time, China factor, ADX. Now you can have your pick.

NIFTY Technicals:
Current Spot: 4680.85
Pivot: 4679.25
Supports: 4660 & 4640
Resistance: 4699 & 4718

BUY NIFTY ABV 4702 TGT 4710,4722,4745
SELL NIFTY BLW 4650 TGT 4618,4590,4562

Stock Idea for the Day
BUY TCS>551.1,554.8,559.5 SL 543
BUY PFC>231.1,234,237,239.5 SL 223
BUY YES BANK>173.5,175.4,177 SL 169.5
BUY TATA COMMUNICATION>520.1,524,527 SL 516 (STOCK CAN BE HELD AS A DELIVER FOR TARGET OF RS 560)
BUY APTECH>267.1,273,279 SL 257
BUY RNRL> 90 FOR TARGETS OF 91.25 AND 92.50. SL OF 88.45
BUY HDIL> 310 FOR TARGETS OF 315 AND 319. SL OF 305
BUY GUJARAT NRE COKE >56 FOR TARGETS OF 57.10 AND 58.25. SL OF 55.10
BUY NOIDATOLL> 43.25 FOR TARGETS OF 44.25 AND 45.50. SL OF 42
BUY SAPETRO> 16.55 FOR TARGETS OF 17.25 AND 18.50. SL 15

Use your own discretion and strict STOP LOSS in each and every trade in this kind of volatile market

Thanks & Regard

Market Pulse S&P Team

0 comments:

Post a Comment

Please leave your comments here...