Archives : DAILY MARKET OUTLOOK : 19/04/2010


The US market were nervous on Friday as the SEC charged Goldman Sachs of civil fraud related to the subprime mortgages. As a result, global market sentiments including ours have taken a beating and hence one can expect a very weak opening and moving down to test the support levels.

Nifty is likely to open below 5235, which was the low for last week and possible test the support at 5187. There exists strong support aroound 5170-5180, below which the Nifty can slide all the way upto 5122-5092.

Sensex Support 17488-17337-17171.

Nifty Support 5235-5178-5122.

Sell if you get a chance:

Sell Rel Cap 751 SL 764 Tgt 735-721.

Sell Kotak 725 SL 741 Tgt 711-695.

Sell Punj Lloyd 168 SL 173 Tgt 161-153.

Sell Hindalco 174 SL 178 Tgt 168-162.

Sell Welspun Guj 271 SL 278 Tgt 263-255.

Sell McDowell 1232 SL 1258 Tgt 1202-1176.

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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