Market outlook for 01/10/09

Remember Ultimate Target: 5309-5556 in next 7 weeks or in Month of Oct ‘09 (This I forecasted when Nifty Future closed above 4539 for 3 consecutive days)
Above 4952, Short term target 5101-5151.(Already kissed 5080)
Today just have a eye on 5091 level. Crossover will take to 5117-5126 level.
Today first hour top crucial. Hourly chart indicates exit from all long position before 10:50. Keep A strict stoploss of 5151 and go short.
Go short around 5126-5130. So your risk will be of 20 points.

NIFTY Technicals:
Current Spot: 5083.95
Pivot: 5058.60
3DEMA: 5030
7DEMA: 4995
Supports: 5030 - 4975
Resistance: 5113 - 5142

Target Nifty:
Buy Nifty above 5085 - 5100 - 5112 - 5127 - 5141 SL - 5058
Sell Nifty below 5049 - 5044 - 5029 - 5002 - 4975 SL - 5065

Buy Bank Nifty above 8822 - 8933 - 8994 - 9055 SL - 8760
Sell Bank Nifty below 8710 - 8649 - 8589 - 8477 SL - 8750

Option Call:
Buy Suzlon 90 strike price @7.10 SL 4 target 14-16

Stock Ideas for the Day:
Bharti Airtel: Buy above 421 for targets of 430 and 442 SL of 418
Rcom: Buy above 312 for targets of 316 and 320 SL of 308
REC: Buy above 201 for targets of 202.25 and 203.50. SL of 200.20
LNT: Buy above 1680 for targets of 1690 and 1700. SL of 1672
RPG Cables: Buy above 19 for targets of 19.75 and 20.50 SL 18

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

Thanks and Regards

S&P Wealth Creators

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