Market outlook for 05/10/09

Do you remember on Friday, I had written it will face hurdle at 5091 level, see it kissed 5089 and Intraday crashed to 5040 to closed at 5070
Now, What to expect?
Today just have a eye on 5092 level. Decisive crossover with volumes will take to 5118-5127 level. Now around 5125-5130 go short. Keep stoploss of 5151.
Now suppose not crosses Friday’s high and trades below 5078 then watch slide upto 5044-5033.
7DEMA: 5013…Once breaks this level too then will kiss: 4999-4988 in hrs only.
The market is at a critical junction and the key message for this week is caution.
NIFTY Technicals:
Current Spot: 5083.40
Pivot: 5083.65
3DEMA: 5060
7DEMA: 5018
Supports: 5057 - 5030
Resistance: 5110 - 5137

Target Nifty:
Buy Nifty above 5086 - 5096 - 5110 – 5123 - 5137 SL – 5073
Sell Nifty below 5050 - 5024 - 5010 - 5003 – 4985 SL – 5073

Buy bank nifty above 8886 - 8919 - 8948 - 8978 - 9011 - 9044 SL - 8865
Sell bank nifty below 8836 - 8824 - 8794 - 8761 - 8728 - 8699 SL - 8855

Stock Ideas for the Day:
Ansal properties: buy above 84 for targets of 86 and 87.65. sl of 82.90
Ifci: buy above 55 for targets of 56.25 and 57.40. sl of 54
Mnm: buy above 890 for targets of 898 and 910. sl of 882.
Sriadhikari brothers: buy above 30 for targets of 35 and 40 sl 25

Future Premium:
BUY ISPAT ABOVE 26 SL 22 TARGET 30/34/38/42
BUY ABAN ABOVE 1700 SL 1550 TARGET 1850/2000/2150/2300
BUY AMBUJACEMENT ABOVE 105 SL 95 TARGET 115/125/135/145
BUY AXISBANK ABOVE 1020 SL 950 TARGET 1090/1160/1210/1280
BUY ABIRLANUVO ABOVE 1030 SL 930 TARGET 1130/1230/1330/1430
BUY ULTRATECH CEMENT ABOVE 875 SL 800 TARGET 950/1025/1100/1175
SELL HDFC BELOW 2650 SL 2800 TARGET 2500/2350/2200/2050
SELL TATAMOTORS BELOW 570 SL 620 TARGET 520/470/420/370
SELL HINDPETRO BELOW 380 SL 410 TARGET 350/320/290/260
SELL HEROHONDA BELOW 1600 SL 1700 TARGET 1500/1400/1300/1200

Cash Premium:
BUY SRIADHIKARI BROTHERS ABOVE 30 SL 20 TARGET 40/50/60/70
BUY TODAYS ABOVE 40 SL 30 TARGET 50/60/70/80
BUY TAINWALA CHEMICALS ABOVE 22 SL 18 TARGET 26/30/34/38
BUY BAJAJ AUTO FINANCE ABOVE 300 SL 250 TARGET 350/400/450/500

RULES OF GAME
1. ALL ARE POSITIONAL CALLS
2. STOP LOSS FOR ALL IS ON CLOSING BASIS
3. LEVEL SHOULD HOLD FOR MORE THAN 20 MINS TO INITIATE TRADE
4. ALWAYS BOOK PARTIAL PROFIT

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

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

Disclaimer
The calls given here are My Personal views, Trading or investing in stocks is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. S&P Wealth Creators will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert’s stock analysis or opinion.