Archives : DAILY MARKET OUTLOOK : 06/06/2008


Market has taken support at 15314 and 4536. The current bounce is a short covering rally. Markets are likely to open with a gap, but sustainability at higher levels will be difficult. The Inflation Figure to be announced in the afternoon, will provide with the daily dose of volatility.

Yesterday, our recommendations to go short on Bharti, L&T, RIL, RNRL and HDFC Bank did achieve their targets.

Sensex Resistance 15859-15992-16196. Support 15612-15573-15464-15314.

Nifty Resistance 4702-4746-4769-4808. Support 4667-4628-4580.

Buy IVR Prime 225 SL 218 Tgt 234-235.

Buy NIIT Tech 140 SL 134 Tgt 147-154.

Buy Wipro 529 SL 520 Tgt 544-552.

Buy Satyam 512 SL 506 Tgt 524-533-542.

Buy Tata Power 1256 SL 1238 Tgt 1292-1310.

Buy Divis Lab 1524 SL 1482 Tgt 1556-1573-1596.

Buy NIIT Ltd 108 SL 105 Tgt 113-115.

Buy Rel Cap 1153 SL 1127 Tgt 1177-1221-1283.

Buy Sun Pharma 1452 SL 1420 Tgt 1483-1520.

Buy ONGC 957 SL 916 Tgt 988-1016.

Buy PVR 184 SL 179 Tgt 189-191.


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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