Archives : DAILY MARKET OUTLOOK : 11/05/2010


It was an amazing day. The Greece Bailout package sparked off a massive global rally and our market also followed that. There was no intraday volatility as the market went from strength to strength, but the volumes were lower.

The Nifty needs to close above the 50dma (5201) for the uptrend to gain further strength and test the resistance around 5250. One needs to be cautious in such rallies as one is not sure when the short covering will stop.

Sensex Resistance 17382-17488-17600. Support 17217-17110-16972.

Nifty Resistance 5213-5242-5269. Support 5160-5129-5084.

Buy SCI 166 SL 163 Tgt 171-176.

Buy RiL 1079 SL 1068 Tgt 1097-1111.

Buy PFC 278 SL 274 Tgt 285-293.

Buy SBI 2307 SL 2290 Tgt 2337-2367.

Buy Kotak 760 SL 750 Tgt 771-783.

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