Archives : DAILY MARKET OUTLOOK : 25/02/2009


The market recovered sharply from lows yesterday because of a surprise excise and service tax cut announced by the government. Some positive impact will be felt initially but that does not mean one should remove short positions.

Sensex Resistance 8875-8922-8971-9017. Support 8765-8631-8607.

Nifty Resistance 2759-2790-2812. Support 2720-2701-2677-2661.

Buy Alstom Proj 325 SL 318 Tgt 331-336-353.

Buy Power Grid 91 SL 87 Tgt 95-98.

Buy M&M 295 SL 287 Tgt 304-316.

Buy Oracle Fin 686 SL 670 Tgt 705-730.

Buy Tech Mahindra 271 SL 265 Tgt 284-298.

Buy Grasim 1382 SL 1351 Tgt 1427-1444.

Some stocks to be shorted for hedging purpose at higher levels are HDFC Bank, HDFC, Canara Bank, TCS, Sintex and Tata Power.

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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