Market outlook for 08/09/09

Yesterday I had written have an eye on 4720 level. Crossover above this level will take to 4754-4766 & there after??

I am writing since last 1 week or more two consecutive close above 4754 will take to 4902-4952 level. (Yesterday was first day it closed above 4754)

Above 4766 given Intraday Message to Subscribers that NF will kiss 4800-4811 level in minutes…..(It made a high of 4805 )

Now what to expect from this level of 4795?

Today just watch 4811 level. Decisive crossover above this level with volumes will take to 4846-4857 level. (Expect sharp selloff around 4846-4850-4857 level)

Support exists at 4725-47680 level. (3 & 7 DEMA)

Always Remember: If a market doesn’t do what you think it should and you’re tired of waiting you’d better be out of it.

NIFTY Technicals:
Current Spot: 4782.90
Pivot: 4750.7
Supports: 4711 & 4640
Resistance: 4822 & 4861

Stock Ideas for the Day:
Buy Tata Comm- Above 490 For Targets Of 500-510-520530-540
Buy Essar Oil- Above 152 For Targets Of 160-170-180
Buy Jp Asso Above 226 Sl 223 Tgt 230,232,234
Buy Guj Nre Coke Above 56.45 Stop 55 Target 56, 57.5, 59
Buy Idfc Above 147 Stop 144.50 Target 149, 141, 143
Buy Bhartiartl Above 422 With A Stop Loss Of 417 For Targets Of 434,439
Buy Relcapital Above 924 Sl 919 Targets 934,938
Buy Lnt Above 1600 For Targets Of 1610 And 1625. Sl Of 1589
Buy Rnrl Above 88 For Targets Of 88.90 And 89.50. Sl Of 87.30
Buy Mnm Above 850 For Targets Of 862 And 870. Sl Of 843

Positional call: (7-15 days)
Buy Mukund Ltd Above 63 Sl 43 Target 83/103/123/143
Buy Kirloskar Brothers Ltd Above 240 Sl 180 Target 300/360/420/480
Buy Astra Microwave @ Cmp Target 110
Buy Prakash Ind @148-150 Target 175
Buy Deepakfert Above 88 Sl 83 Target 102
Buy Indiacem Above 128 Sl 120 Target 140
Buy Cambridge Technology Above 35 Sl 25 Target 45/55/65/75
Buy Creative Eye Above 6.5 Sl 5.5 Target 7.5/8.5/9.5/10.5

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

Thanks & Regards

Market Pulse S&P Team