Archives : DAILY MARKET OUTLOOK : 22/06/2010


Global rally yesterday helped our market clear the hurdle at 5300-5310 and closed way above it. The rally was due to the fact that China took a decision to allow its currency more flexibility to move against the US dollar. This helped the beaten down metal and steel stocks to rally mainly due to short covering. Any dip will be a buying opportunity for our market.

Sensex Resistance 17919-17963-18047. Support 17780-17654-17570.

Nifty Resistance 5366-5379-5399. Support 5323-5288-5262.

Buy Kotak 793 SL 785 Tgt 806-820.

Buy Cent Tex 468 SL 463 Tgt 480-491.

Buy Voltas 196 SL 193 Tgt 202-209.

Buy ICSA 144 SL 142 Tgt 149-155.

Buy Renuka 67 SL 66 Tgt 71-75.

Buy HDiL 252 SL 247 Tgt 259-267.

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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