Archives : DAILY MARKET OUTLOOK : 18/08/2009


Market saw a strong selling at higher levels and the slide continued without any pull back. Today as the market is near the support of 4359, we might witness a small intraday pull back but that should be used as opportunity to lighten your position.

Sensex Resistance 14921-15045-15148. Support 14696-14526-14355.

Nifty Resistance 4429-4464-4495. Support 4359-4304-4249.

Buy IOC 569 SL 562 Tgt 580-589-601.

Buy BPCL 506 SL 494 Tgt 516-534.

Buy HPCL 358 SL 348 Tgt 365-374.

At Higher Levels one can short:

Sell M&M 747 SL 783 Tgt 708-681.

Sell Grasim 2580 SL 2635 Tgt 2535-2472.


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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