Friday, October 9, 2009

Market outlook for 09/10/09

Yesterday, I had written: Nifty Future will face hurdle at 5022-5029.25. Crossover will take to 5051-5058 level. (Just see it kissed 5052 & crashed)
Today, what to expect?
Hurdles exist at 5026-5033. If crosses 5033 then expect jump upto 5053-5060.
Support levels are 4960-4950-4920-4910.
On Rise try to exit, today break below 4960 with volumes will create panic.
Intraday levels & Strategy to our Subscribers.

NIFTY Technical
Current Spot: 5002.25
Pivot: 5005.65
3DEMA: 5005
7DEMA: 5008
Supports: 4968 - 4934
Resistance: 5040 - 5077

Target Nifty
Buy Nifty above 5022 - 5039 - 5058 - 5079 SL - 5005
Sell Nifty below 4980 - 4968 - 4951 - 4934 SL - 5009

Stock Ideas for the Day
Delta Corporation Ltd: Buy above 55.65 for targets of 57.55 and 60.65 SL of 53.30
Pantaloon: Buy above 338 for targets of 340 and 343 SL of 334
Tata Tea: Buy above 890.75 for targets of 894 and 900 SL of 881
Nirma Ltd: Buy above 188 for targets of 191 and 194 SL of 182

Positional Call: (7-15 days)
Plethico Pharmaceuticals Limited (Short term target- 350)

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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