Market outlook for 15/10/09

14-10-09 trading shows that the markets are in full zoom to Diwali eve. Nifty closed at 5118 +64.

• FII data: bought in cash, bought in index futures, but sold in stocks futures.
• F&O data: Nifty futures shed open index.
• Option writings: 5100 puts added.
• US markets: Dow crossed 10K.
• Global cues are positive.
• SGX nifty is positive.

Over all view: Nifty may trade up with out correction up to Diwali for a closing around 5310-5350.

NIFTY Technical
Current Spot: 5118.20
Pivot: 5099.95
3DEMA: 5066
7DEMA: 5035
Supports: 5072 - 5027
Resistance: 5146 - 5173

Target Nifty
Buy Nifty above 5130 - 5145 - 5159 - 5173 SL - 5105
Sell Nifty below 5086 - 5072 - 5049 - 5026 SL - 5102

Option Call

Stock Ideas for the Day
Reliance: Buy above 2202 for targets of 2212 and 2222 SL of 2189
IVRCL: Buy above 415 for targets of 422 and 429 SL of 408
JP Associates: Buy above 249 for targets of 253 and 257 SL of 244.5
Opto Circuit: Buy above 208.3 for targets of 211 and 217 SL of 204.4

Positional Call: (7-15 days)
SKF above 272 SL 268 target 315
Dabur above 147 SL 144 target 155
Msk project above 104 SL 101 target 115
Ador Welding Ltd above 164 SL 160 target 200

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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