Tuesday, September 22, 2009

Market outlook for 22/09/09

Above 4952 will take to 5101-5151. Minor Hurdle at 5021-5045. Now suppose not crosses 5011 and trades below 4984 will take to 4942, Break below 4942 with volumes will take to 4901-4887 level.

18-9-2009 trading was range bound with further unwinding of September series and carry over to next month. Nifty traded weak and closed in little green. Nifty is at 4976+10 points.
FIIs huge buying in cash, selling in index and stocks futures,
F&O nifty futures over all reduction of OI -6 lakhs means no further rise in this series.
Option writings shows more put writings further.
US markets are -ve,
Global cues -ve to flat.
SGX nifty is -ve.

Over all view: Markets may be in the range bound trades for the settlement. Nifty bullish above 5030 bearish below 4930.But as it is expected continuation of bullishness for the next settlement one can plan for call buying on the settlement day.

NIFTY Technicals:
Current Spot: 4976.05
Pivot: 4962.90
3DEMA: 4956
7DEMA: 4901
Supports: 4945 - 4914
Resistance: 4994 - 5012

Target Nifty:
BUY NIFTY AT 4930 STOPLOSS 4905 TARGET 4960, 4990
SELL NIFTY AT 5035-5040 STOPLOSS 5067 TARGET 4990, 4930

Stock Ideas for the Day:
Buy JPAssociates @ 257 SL 252 target 265 [Good position build up is seen at JPAssociates September call option strike price 450]
Buy IVRCL Infra @379 SL 368 target 395
Buy Rel Infra @1243 SL 1224 target 1290
Buy Adlabs @362 SL 354 target 380
Buy RPower @172 SL 169 target 180 [Huge position is build up in Reliance Power September call option strike price 170]
Buy Punj Llyod @272-273 SL 266 target 285-290
Buy Maruti @1639 SL 1614 target 1683
Buy Grasim @2811 SL 2771 target 2855
Buy Sesa Goa @280 SL 274 target 290-300
Buy Escorts @92 SL 88 target 99

Positional Call: (7-15 days)
Buy Idbi And Idfc For 20 Percent Appreciation From Here In Short Term
Buy United Spirits Ltd- Around 900 Or Dips For The Target Of 950
Buy Divi's Laboratories- Around 550 Or Dips For The Target Of 590
Buy Meghnani - Around 17.5 or Dips For The Target Of 27

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

Thanks and 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.


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