Archives : DAILY MARKET OUTLOOK : 11/11/2009

DAILY MARKET OUTLOOK : 11/11/2009.

Market has just about managed to hang on to the critical 50dma, but failed in its attempt to cross the Nifty Resistance zone of 4930-4950. The market is likely to trade sideways with a slight negative bias.

Sensex Resistance 16541-16637-16677. Support 16371-16302-16232.

Nifty Resistance 4907-4940-4968. Support 4860-4839-4799.

Buy Engineers India 1399 SL 1349 Tgt 1437-1471.

Buy GSPL 94 SL 92 Tgt 98-102.

Buy Ashok Leyland 53 SL 52 Tgt 55-58.

Buy Tata Motors 593 SL 584 Tgt 607-619.

Buy Cummins 401 SL 392 Tgt 410-416.

Buy Havells 319 SL 315 Tgt 326-333.

Buy ITI 49 SL 46 Tgt 52-55.

At Higher Levels One can Short:

Sell Maruti 1445 SL 1462 Tgt 1416-1383.

Sell Hero Honda 1496 SL 1527 Tgt 1460-1436.

Sell DLF 377 SL 385 Tgt 371-360.


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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