Market outlook for 25/09/09

24-9-2009 trading and settlement is over with two days jerks and finally after recovering from the opening lows nifty closed at 4986+16 points.

• FII bought in 54 cash futures, sold in stocks futures, bought in index futures.
• F&O nifty open interest added over 23 lakhs.
• Option writings shows 4900 puts added 16 lakhs (35.8 lakhs) and 5000 calls added 8.8 lakhs (25 lakhs) means bullishness.
• US markets were in red.
• Global markets are also in red.
• SGX Nifty is in red.

Range of big rising wedge 1117 (5036-3919) break out is at 4796, 10 ema=4930, 20 ema=4850, Fibonacci retracement levels 4775,4612,4480,4347,3920.

 

NIFTY Technicals:
Current Spot: 4986.55
Pivot: 4969.05
3DEMA: 4983
7DEMA: 4952
Supports: 4921 - 4856
Resistance: 5034 - 5082

 

Target Nifty:
Above 4980 NF may move up to 5036 and 5076
Below 4980 NF may fall up to 4943 and 4888

 

Stock Ideas for the Day:
Jaysree Tea: Buy above 296 for targets of 299 and 303 SL of 291
UCO Bank : Buy above 55 for targets of 56.10 and 57.25. SL of 54.20
IFCI : Buy above 55 for targets of 55.90 and 56.35. SL of 54.50
SESAGOA: Sell below 266 SL 272 Target 258-250

 

Positional Call: (7-15 days)
Jaysree Tea: Buy above 296 for targets of 372 SL of 286

 

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.