Monday, October 12, 2009

Market outlook for 12/10/09

9-10-09 trading shows that the news Infosys or Reliance won't boost up the markets. Nifty closed at 4945 - 57 points.

  •  FII data sold in Cash, index futures and stocks futures and building the shorts in stocks futures strongly mean markets will fall from this level.
  • F&O nifty futures open interest added further means shorts.
  • Options writings shows more call writing at 5000 level and this should become less than Rs 30/- before a reversal in the markets.
  • US markets are in bull stream.
  • Global markets may be in flat to bullish.

 Over all view: As seen from FII short positions in stocks futures and fresh shorts in index futures at long term support levels of nifty 4930 zone the lower levels will be far below. Even if markets show some strength at the time of opening on Monday this won't stay for ever. Market has to break the levels and retrace to 4600 levels before a rise.


NIFTY Technical
Current Spot: 4945.20
Pivot: 4970.75
3DEMA: 4975
7DEMA: 4992
Supports: 4909 - 4873
Resistance: 5007 - 5069

Target Nifty
Buy Nifty above 4955 - 4970 - 4988 - 5007 SL - 4930
Sell Nifty below 4935 - 4908 - 4890 - 4872 SL - 4950

Option Call
Sell NIFTY 5000 CA (DECEMBER EXPIRY) @ Cmp 250 for targets of 200, 150 SL 300
Buy NIFTY 5000 PUT Near 140 to 145 for targets of 158,172,195 SL 130

Stock Ideas for the Day
Siemens: Sell below 570 for targets of 565 and 560 SL of 574
Gail: Sell below 380 for targets of 375 and 370 SL of 383
IDBI: Buy 130 for targets 138-142 SL 126.50. One can also buy IDBI CA for a good up move of 100%. One can also buy IDBI in an investment account with a target of 200 in 12 month’s time frame.
TCS: Buy above 562 for targets of 566 and 570 SL of 559
Suzlon: Buy above 87.3 for targets of 88, 91 SL of 85. Better buy 95 CE around 1.8 and exit near 2.5
Teledata Technology Solutions Limited: Buy above 4.80 for targets of 5.20, 6.00, SL of 4.50

Positional Call: (7-15 days)
Godrej Industries: Buy in small quantity for targets of 233 in a week.

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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