Market outlook for 07/10/09

What to expect from this level of 5039 ?
First of all Nifty Future will have to cross 5058 level. Decisive crossover with volumes /stays above this level for 5-10 minutes will take to 5089-5100 level.
5100 to 5151 range is a range to trap Bull’s.
Be cautious at Higher levels.
To know support levels if crosses 5058 or not crosses 5058 level …join us.

NIFTY Technicals
Current Spot: 5027.40
Pivot: 4994.35
3DEMA: 5029
7DEMA: 5018
Supports: 4954 - 4881
Resistance: 5068 - 5108

Target Nifty
Buy Nifty above 5051 - 5067 - 5080 - 5108 - 5144 - 5181 SL - 5022
Sell Nifty below 5000 - 4974 - 4954 - 4917 - 4880 - 4860 SL - 5032
The Magic levels: - 5090 - 5059 & 4996 - 4965

Buy Bank Nifty above 8850 - 8900 - 8946 - 8992 - 9079 - 9165 SL - 8814
Sell Bank Nifty below 8700 - 8681 - 8635 - 8462 - 8416 - 8370 SL - 8740
The Magic levels: - 8954 - 8881 & 8736 - 8663

Stock Ideas for the Day
IRB Infra: Buy above 226 for targets of 229 and 232. SL of 224.
HUL: Buy above 282 for targets of 284.50 and 286.25. SL of 280.95
LNT: Buy above 1680 for targets of 1693 and 1710. SL of 1670
Reliance Industries: Buy above 2144 for targets of 2158 and 2173 SL of 2115
Suzlon: Buy above 88 for targets of 90 and 92. SL of 86.2 (Short covering rally expected)
BHEL: Buy above 2420 for targets of 2430 and 2450. SL 2405

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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Disclaimer
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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.