DAILY MARKET OUTLOOK : 21/01/2009.
Market will be trading with a negative bias and Nifty - 2812 will be difficult reisistance to cross. Sell on rise and hedge by buying Power and Oil Marketing Companies at lower levels.
Sensex Resistance 9148-9188-9235-9456. Support 9059-8966-8894-8638.
Nifty Resistance 2812-2853-2866-2888. Support 2758-2720-2701-2650.
Buy Torrent Power 78 SL 75 Tgt 82-89.
Buy Neyvelli Lignite 87 SL 83 Tgt 91-95.
Buy Polaris 44 SL 41 Tgt 46-49.
Buy NTPC 185 SL 181 Tgt 189-192-196.
Buy RPower 102 SL 98 Tgt 107-111.
Buy ReL Infra 551 SL 532 Tgt 565-575.
Buy Alstom Proj 248 SL 244 Tgt 259-262-272.
Buy BEML 366 SL 343 Tgt 383-397-409.
Buy HPCL 293 SL 289 Tgt 298-306.
Buy BPCL 392 SL 386 Tgt 399-404.
Buy IOC 447 SL 439 Tgt 454-460.
Go Short at Higher Levels in the following:
Sell HDFC Bank 915 SL 931 Tgt 892-862.
Sell HDFC 1485 SL 1528 Tgt 1448-1428-1413.
Sell McDowell 733 SL 775 Tgt 688-629.
Sell Educomp 1968 SL 2050 Tgt 1881-1852-1832.
Sell Tata Comm 449 SL 481 Tgt 432-418-390.