Archives : DAILY MARKET OUTLOOK : 14/07/2008


Market hanging on tenterhooks. The Bad IIP numbers took its toll on the market. The market crumbled, but one interesting thing was the discount on Nifty futures, which reduced from 50 points to 22 points. It was interesting as FII's were covering their shorts by the close.

Volatility will reign supreme. If any upward move is seen in the morning then one can short as the volatility will bring it down. IT and Infra stocks are seeing good short build up.

Sensex Resistance 13584-13633-13727. Support 13351-13233-13049.

Nifty Resistance 4072-4097-4102-4140. Support 4014-3979-3944-3896.

Sell Infosys 1676 SL 1775 Tgt 1531-1484-1413.

Sell TCS 798 SL 823 Tgt 750-725.

Sell HDFC 1998 SL 2045 Tgt 1942-1913-1838.

Sell ICICI 591 SL 608 Tgt 570-554.

Sell RIL 2016 SL 2057 Tgt 1956-1930.

Sell HCL Tech 238 SL 249 Tgt 230-225.

Sell Tata Power 975 SL 1020 Tgt 931-903.

Sell VSNL 381 SL 397 Tgt 365-340.

Sell Tata Steel 666 SL 680 Tgt 638-626.

Sell Bhel 1521 SL 1575 Tgt 1463-1416.

Buy Sterlite 661 SL 648 Tgt 681-723.

Buy Nalco 380 SL 372 Tgt 389-404.

Buy Hindalco 154 SL 149 Tgt 161-167.

Buy Tata Chem 305 SL 295 Tgt 314-321.

Buy Orchid Chem 263 SL 255 Tgt 270-277.


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