Archives : DAILY MARKET OUTLOOK : 18/09/2009


Nifty has made a neutral formation on the candle stick chart yesterday. The long upper shadow represents selling at higher levels and that can be negated if we close above 5003.

The strategy is to avoid Nifty today and have a stock specific approach.

Sensex Resistance 16820-16929-17171. Support 16636-16561-16454.

Nifty Resistance 4987-5003-5044. Support 4944-4923-4889.

Buy Essar Oil 162 SL 158 Tgt 172-182.

Buy MRPL 90 SL 88 Tgt 93-97.

Buy IVRCL Infra 378 SL 368 Tgt 392-416.

Buy Alstom 545 SL 532 Tgt 554-565.

Buy Grasim 2768 SL 2725 Tgt 2828-2862.

Buy FSL 35 SL 34 Tgt 37-40.

Buy Adlabs 358 SL 352 Tgt 369-377.

Buy Divis 541 SL 532 Tgt 557-572.

Buy Amtek Auto 210 SL 204 Tgt 227-236.

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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