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DATE – 14th April 2009
WORLD MARKETS
Dowjones 8057 Dn-25
Nasdaq 1653 Up+1
Nikki 8842 Dn-81
SGX NIFTY +6
Crude 50.73
Dollar 49.48
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Buy Nifty Future above 3408 ; Stop Loss 3390 ; Target 3424,3436,3475,3490,3525
Sell Nifty Future below 3390 ; Stop Loss 3395 ; Target 3362,3348,3324,3308,3290
NIFTY TODAY'S DECISIVE LEVELS:
UPPER SIDE: 3420 3450
LOWER SIDE: 3340 3280
TREND DECIDER WILL BE 3350
BULL RUN IS STILL REMAINING ABOVE 2975
NIFTY: closed@3390.90
Nifty closed around its strong resistance level, if maintain its support 3340 then bull run favors and buying opportunity for the target of the 3440 3460
BANK NIFTY: closed@4822
5000 will be the strong resistance we are expecting some selling pressure on upper levels, but if maintain above 4700 then 5100 5200 will be the next considerable levels.
Today's Techncial Outlook
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Market Out Look
THE MARKET RALLIED ONGOING CONTINUOSLY DUE TO BUYING PRESSURE CAME IN MARKET BUT AT HIGHER LEVEL PROFIT BOOKING MAY EXPECT.
Option Strategy :
IN NIFTY OPTION 3400-3500-3600 ARE VERY ACTIVE WITH HEAVY VOLUME AND OPEN INTEREST THAT SHOWS SOME STRENGTH, BUT ON ANOTHER SIDE OPTION OF 3200-3300 PUTS ARE ALSO IN ACTIVE POSITION THAN CALLS SO REVERSAL MAY EXPECT.
Sectortrend THE METAL,BANKEX,REALTY, PSU,AUTO SECTORS ARE WELL PERFORMING WHILE TECK,IT,FMCG SECTOR MAY LOOKING UNDER PRESSURE.
STOCK WATCH: TATA MOTORS,STERLITE, TATA STEEL, DLF, SBIN,ARE LOOKING GOOD ANOTHER SIDE IT STOCKS TCS ,WOPRO,HIND UNILEVER ARE SOME LOOSERS.
INDEX OUT LOOK
NSE : THE NIFTY IF SUSTAINS THE LEVEL OF 3410 THEN GOES UP TO 3450-3480 .PRESENTLY NIFTY GIVES SUPPORT 3400 BUT IF IT BREAKS THE 3300-3247 THEN DOWNSIDE TREND MAY STARTS.
BSE : THE SENSEX CROSSED ITS RESISTANCE LEVEL OF 11000 BUT CLOSED BELOW AT 10967 IF AGAIN TRADES ABOVE THAT MOVED UP TO 11230 ANOTHER SIDE IF GO BELOW 10800 SOME EAKNESS EXPECT.
STOCKS STOCKS TO WATCH
RELIANCE: (closing 1777)
1750-1800 zone will be the decisive zones for Reliance, if trade beyond this zone then it will show some indication, above 1800 may reach to 1840 1850, but below 1750, 1680 will be the major support level.
SBI: (closing 1220)
1080 will be the major support level for the stock, if maintain this then next level may touch 1250, very strong buying indication along with the bank nifty.
LT: (closing 825)
Very good above 790 buy this for the target of the 840 860.
DLF: (closing 228.80)
For long term trader this stock is very good, buy this with the stop loss of the 190, may reach to 250 270 in coming days.
HDIL: (closing 138)
Opportunity to buy above 120, it may taste 150 155 today.
SUZLON: (closing 64)
Very good above 60, next target will be the 70 74.
CALL/ PUT STRATEGY
Nifty: 3400 call closed around its day's high. But strong accumulation on lower level.
Nifty: 3500 call shows good opportunity to trade.
RELIANCE: reliance 1800 call had shown intense upward movement, one can buy this with strict stop loss.
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DISCLAIMER :
Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only. NOTE WE HAVE NO HOLDINGS IN ANY OF STOCKS RECOMMENDED ABOVE.
