Archives : DAILY MARKET OUTLOOK : 29/04/2010


Once again Europe played the party pooper ahead of the expiry. It was the turn of Spain and Portugal after Greece. Our markets went down in line with global markets yesterday,  but the only small positive was that the Nifty held on to 5200 levels.

Today being the expiry, one can expect support at 5200 and Resistance around 5290. Short covering will be seen in stocks like LIC Hsg, SBI, UCO Bank, Dena Bank, RNRL, BoB, and Axis Bank to name a few.

Sensex Resistance 17481-17576-17643. Support 17308-17244-17171.

Nifty Resistance 5235-5290-5321. Support 5189-5160-5140.

Buy SBI 2232 SL 2218 Tgt 2261-2292.

Buy Axis 1254 SL 1245 Tgt 1274-1297.

Buy LiC Hsg 905 SL 892 Tgt 915-930.

Buy RNRL 66 SL 65 Tgt 69-72.

Buy Uco 67 SL 66 Tgt 70-73.

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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