Market outlook for 14/09/09

Yesterday written Nifty Future will have to break 4790 then only panic will start.Just see exactly kissed that level and taken U-turn to close at 4822.
Now ,What to expect ?
Just watch 4846 level.Once crosses this level will take to 4865-4871 level.
-There after 4890-4902 level.
Support :4790…Once breaks with volumes and trades below this level for 5 minutes will take NF to 4730-4710….But Today chances are remote ?
Remember 4790,Nothing else

Nifty has formed a Tri-star doji at the TOP over last 3 days, same was also observed at 6000 TOP of Jan 2008..
Bearish Doji Tri-Star: Indicate the end of a uptrend and beginning of downtrend.
The requirements is that it should be formed after a significant uptrend.
This pattern indicates stop of the prior trend. This is a significant reversal indicator.
Any fall below 4780, can lead to target of 4740 4700 4680 4600. SL 4850.

NIFTY Technicals:
Current Spot: 4808.60
Pivot: 4809.05
Supports: 4786 & 4763
Resistance: 4832 & 4855

Target Nifty:
Buy Nifty above 4820 - 4831 - 4843 - 4855 SL - 4808
Sell Nifty below 4800 - 4797 - 4785 - 4774 SL – 4812

Stock Ideas for the Day:
Reliance Industries : Buy above 2144 - 2149 - 2161 - 2173 - 2184 SL - 2137
Essar Oil : Buy above 153.48 Tgt 156.27, 157.93, 159.58, 162.38 SL 150
Bharti Airtel : Buy above 420, Tgt 421.98, 423.33, 427 SL 416
Hcltech : Buy Above 318 Tgt 323, 325 Sl 314.50
Syndibank : Buy Above 86 Tgt 89, 90 Sl 84.50
Andhra Bank : Buy above 99 Tgt 101, 102.50 SL 97.50
SCI : Buy above 140 Tgt 142, 144 SL 138

Option Call:

Positional Call: (7-15 days)
Buy Reproindia Above 120 Targets 130, 140 Sl 100 Closing Basis
Ashco Industries : Buy Above 10 Targets 12, 14,16 Sl 8 Closing Basis

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