Monday, October 26, 2009

Market outlook for 26/10/09

On Friday too it was indicated and written to exit from Heavy weight stocks and sell NF around 5069 with stoploss of 5081. It kissed High of 5053 and crashed upto 4987 level
Today just have a eye on 4970 level.Once breaks this level with volumes and trades below this level for 5-10 minutes then…Nonstop slide upto 4923-4908 not ruled out.
  • Hurdles for Nifty Future :5023-5050.
  • Crossover above 5050 will take to 5070-5082.
  • Any Rise, Sell Sell Sell.
  • Real panic to start below 4970 level.


NIFTY Technical
Current Spot: 4997.05
Pivot: 5011.75
3DEMA: 5041
7DEMA: 5064
Supports: 4969 - 4940
Resistance: 5040 - 5083

Target Nifty
Nifty Buy above 5031 tgt 5047, 5057, 5073, 5090 sl 5004
Nifty Sell below 5004 tgt 4988, 4978, 4962, 4936 sl 5031

Option & Futures Call
ITC: ITC 260 CALL AT 4 TARGET 8 SL 2

Stock Ideas for the Day
AXISBANK: Buy above 995.4 tgt 1000.35, 1003.3, 1008 sl 981.6
ICICIBANK: Buy Above 907.8 tgt 909.6, 913.2, 917 sl 899.6
ICICIBANK: Sell Below 899.6 tgt 896.85, 892.9, 890 sl 907.8
JPASSOCIATES: Buy above 240.2 tgt 241.7, 245, 248 sl 233.9
JPASSOCIATES: Sell below 233.9 tgt 231.1, 227, 225 sl 240.2
M&M: Buy above 928.6 tgt 932.2, 934.7, 938.7, 941 sl 918
Reliance Industries: Buy above 2065 tgt 2081, 2102 SL 2057
Goa Carbon Ltd.: Buy above 109 tgt , 112, 115 SL 107.5

Positional Call:
Oil Country: Buy above 109.50 for tgt of 124 SL of 96 (One month)
GSPL: Buy above 89 for tgt of 99 SL of 82 (One month)
Sical Logistics Limited: Buy above 71.4 for tgt 100 SL of 68

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.

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