Archives : DAILY MARKET OUTLOOK : 09/05/2008

PLEASE NOTE FRESH BATCH FOR TECHNICAL ANALYSIS STARTS THIS 11TH MAY 2008, SUNDAY, AT DADAR. PLEASE REGISTER IMMEDIATELY TO AVOID DISAPPOINTMENT LATER.

DAILY MARKET OUTLOOK : 09/05/2008.

We said the market looked weak as it closed below the 200 dma and it went down by more than 200 points. But inspite of the weak market conditions, our stocks Renuka Sugar, Patni Comp, GE Shipping, Welspun Guj, Bharat Forge, Mastek, Everonn and Omnitech reached their targets !!

Today market is likely to be choppy as the inflation figure will be announced by noon. The market is in a poor shape and chances are if the inflation figure is very high, market may not take that very kindly.

Best Policy to trade is to stay light and keep your positions hedged.

Sensex Resistance 17141-17212-17413. Support 16996-16871-16683.

Nifty Resistance 5112-5143-5163. Support 5042-5018-4991.

Aurobindo Pharma 348 SL 342 Tgt 358-363.

Aban Lloyd 3809 SL 3755 Tgt 3899-3938.

GE Shipping 468 SL 456 Tgt 482-493.

Moser Baer 191 SL 184 Tgt 196-207.

Great Offshore 708 SL 686 Tgt 728-740-780.

Amtek Auto 301 SL 292 Tgt 310-325.

Bharat Forge 310 SL 304 Tgt 320-332.

Tata Steel 844 SL 828 Tgt 859-867.

Torrent Power 136 SL 132 Tgt 143-151.

MroTek 82 SL 78 Tgt 86-92.

Mundra Port 781 SL 766 Tgt 815-864.

 


Disclaimer : The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness.

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