Market outlook for 11/09/09

A successful speculation is “a man who observes the future and acts before it occurs.” Acting swiftly in the market is important.

I had written last week and this week too above 4754, Nifty Future will kiss 4902-4957 level. Just see yesterday it kissed 4889 and crashed upto 4804 to close at 4818 level.

Yesterday in Intraday update it was mentioned 4810-4790 are crucial support. So just remember 4790 as last hope for Bull’s.

Today, what to expect?

If Nifty crosses 4830, then will take to 4846-4851. Go short if revives, keep stop loss of 4867-4872.

Sell around 4850 level: Your Risk 17-22 point only.

Once breaks 4790 with volumes then nonstop slide upto 4731-4711 level in hrs only.

Don’t jump and Buy Sensex - Nifty stocks.

Monday-Tuesday to favour Bears?

Midcap IT, Midcap FO Stocks looking weak, On Rise try to exit.

Always Remember: Every time you have the urge to make an aggressive trade, go with the more conservative one. You’ll always be OK. The moment you get impatient, bad things happen. In tough markets, stay patient and let others beat themselves.

NIFTY Technicals:
Current Spot: 4819.40
Pivot: 4838.75
Supports: 4788 & 4758
Resistance: 4870 & 4920

Stock Ideas for the Day:
Sesa Goa : Buy Above 240 Tgt 246, 252 Sl 235
Hdil : Buy Above 308 For Tgt 312, 316 Sl 303
Unitech : Buy Above 110 Tgt 112, 114.25 Sl 107.50
Concor : Buy Above 1125 Tgt 1140,1148,1160 Sl 1119
Concor : Sell Below 1119 Tgt 1110,1103,1090 Sl 1130
RNRL : Buy above 90.60, 91.87, 92.70 SL 89.70

Keep watch on GSPL, Welspun Gujarat, Sesa Goa, Ratnamani metals, Welspun Gujarat and Renaissance

Option Call:
Buy HCC 110 CA @5.55-5.65 target 8-8.5

Positional Call: (7-15 days)
Buy Ratnamani Metals & Tubes Above 115 Tgt 130, 145 Sl 100

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

Call 09831497250 or mail us @ S&P Team with your Name and Mobile No. for subscription offer of intraday calls during Market hours.