Archives : DAILY MARKET OUTLOOK : 30/07/2009


As expected the market finally broke the range on the lower side but just about managed to close above 4500. Today once again the Nifty will show weakness below 4500 and the volatility will only increase due to expiry. So dont over indulge in trading today.

Sensex Resistance 15293-15379-15463. Support 15046-14930-14888.

Nifty Resistance 4557-4599-4636. Support 4453-4380-4365.

Buy BPCL 468 SL 461 Tgt 480-492.

Buy HPCL 332 SL 326 Tgt 339-353.

Buy Aban 1015 SL 985 Tgt 1033-1099.

Buy Rolta 148 SL 144 Tgt 152-158.

Buy Polaris 119 SL 115 Tgt 125-129.

Buy Bal Chini 117 SL 113 Tgt 122-127.

At Higher Levels One can Short:

Sell Sterlite 622 SL 642 Tgt 600-581.

Sell HDFC Bank 1418 SL 1438 Tgt 1400-1378.

Sell ABB 699 SL 729 Tgt 677-655.


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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