Market outlook for 31/08/09

28-8-2009 trading, the first day of the new settlement, shows that with a small intra-day jerk nifty closed strongly above yearly high 4732 +44 points.
• FII data not yet fully supportive to this with volume build up in F&O.

• The nifty future addition of 13 lakh and option writings are showing positiveness.

• US markets are weak to flat. Global cues may be weak to flat on Monday.

• All markets are ready to fall and to enter fresh bear run led by Shanghai this time.

• Sensex has not yet crossed 16000 mark.

• Though it is strong enough to believe the bullishness one has to be cautious until nifty to cross 4780.

• Volume buildup in F&O by FIIs that may happen on Monday/Tuesday otherwise cannot believe this Bull Run and one may buy 4300 puts for this month. (Target may be below 4300)

• Bullish Nifty target will be 5000-5100. The technical indicators are also not yet showing reversal.

Be cautious until nifty to cross 4780

From last 4 Days, I was writing 4754 is major Hurdle for Nifty Future. Just see on Friday kissed 4754 & closed at 4738 level.

Now, what to expect from this level?

Two Consecutive close above 4754 will take to 4902-4952 level.

Future Traders can see above 4754, It will favour Bull’s only and will zoom to kiss 4827-4851 level in hrs only.

Support exist at 4703-3DEAMA

Major support: 4644-7DEMA

NIFTY Technicals:
Current Spot: 4732.35
Pivot: 4709.20
Supports: 4674 & 4617
Resistance: 4767 & 4802

BUY NIFTY ABV 4745 TGT 4760, 4788, 4822
SELL NIFTY BLW 4665 TGT 4652, 4630, 4602

Stock Idea for the Day
BUY THERMAX ABOVE 460 FOR TARGETS OF 480 AND 500 SL OF 450
BUY GVK POWER & INFRA ABOVE 47 FOR TARGETS OF 49 AND 51 SL OF 46.10
BUY CUMMINSIND ABOVE 347 TGT 353 355 358 SL 344
BUY PARSVNATH ABOVE 128.50 TGT 131 133 SL 126
BUY ADLABS ABV 337.1,339,342,347 SL 330.9
BUY ORCHID ABV 123.1,126, 128 SL 119
BUY PUNJ LLYOD ABV 276.1,277.8,282.5 SL 269.8
BUY RELIANCE CAPITAL ABV 881.1,889,899 SL 869.8
BUY TATA COMN ABV 515.1,519,523 SL 509.8
BUY STERLITE ABV 701.1,705,710 SL 694
BUY CESC ABV 381.1,385,388.5 SL 375.8
BUY UNITECH ABV 97 SL 95 TGT 99,101
BUY JPASSOCIATES ABV 232 SL 230 TGT 236, 239
BUY GLAXO ABV 1410 SL 1399 TGT 1425,1432,1448
BUY IFCI ABV 55 SL 53 TGT 57,59,61

Indian Bluechip Stock Tip Trading for Reliance for the week 31-08-09 to 04-09-09

Reliance Industries was the sole stock which pulled the market from the blues and thus short term trend for the stock is up. One need to watch the level of 1849, which if breaks means that the stock will touch 1700, 1500 levels.
As an Investor one can go long once stock moves past 2201 with volumes. Level of 1900 can act as a strong support level
Buy above 2077 - 2094 - 2104 SL - 2068

Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.

Thanks & Regard

Market Pulse S&P Team