Archives : DAILY MARKET OUTLOOK : 17/12/2009


Yesterday the market tested the 50dma and bounced back. The 50dma is also supported by the strong trendline and hence the bulls are resting all their hopes on that level. IT Stocks are likely to continue with their rally, while Financial Stocks continue to look weak.

Sensex Resistance 17027-17097-17163. Support 16814-16721-16635..

Nifty Resistance 5077-5109-5138. Support 5019-5001-4960.

Buy OFSS 2182 SL 2152 Tgt 2224-2247.

Buy Infosys 2544 SL 2520 Tgt 2568-2607.

Buy TCS 713 SL 704 Tgt 721-733.

Buy Wipro 671 SL 664 Tgt 679-691.

Buy UltraTech 908 SL 895 Tgt 920-935.

Buy Fin Tech 1371 SL 1360 Tgt 1395-1419.

Buy Siemens 566 SL 560 Tgt 579-590.

Buy Rolta 185 SL 182 Tgt 191-195.

Buy Tulip 969 SL 946 Tgt 987-1002.

At Higher Levels One Can Sell:

Sell Axis Bank 937 SL 957 Tgt 918-900.

Sell Kotak Bank 776 SL 784 Tgt 767-749.

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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