Archives : DAILY MARKET OUTLOOK : 23/02/2010


Volatility increased yesterday, but the market continued to trade in a range. Nifty is finding it increasingly difficult to cross the 4930-4950 resistance zone. On the lower side the Nifty likely to run into support area around 4780-4800.

Sensex Resistance 16308-16398-16480. Support 16145-16074-15982.

Nifty Resistance 4876-4900-4929. Support 4834-4805-4766.

Buy Glaxo 1680 SL 1670 Tgt 1694-1718.

Buy Educomp 719 SL 712 Tgt 728-739.

Buy NiiT Tech 179 SL 173 Tgt 187-194.

Buy IOC 326 SL 321 Tgt 333-343.

At Higher Levels One can Short:

Sell Rel Infra 987 SL 999 Tgt 975-951.

Sell HDiL 294 SL 302 Tgt 287-280.

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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