Archives : DAILY MARKET OUTLOOK : 30/06/2010


Nifty closed just below the support of 5260. The Nifty is likely to test lower support levels before it bounces back. As usual steel and banking stocks are likely to lead the fall. But if there is a big gap down, expect some bounce back. Nifty will gain strength only if it manages to stay above 5260.

Sensex Resistance 17603-17713-17794. Support 17465-17394-17313.

Nifty Resistance 5276-5309-5339. Support 5235-5214-5187.

Sell SBI 2291 SL 2318 Tgt 2262-2232.

Sell ICICI 848 SL 859 Tgt 836-823.

Sell Jindal Steel 621 SL 628 Tgt 609-596.

At Lower Levels One Can Buy:

Buy OFSS 2220 SL 2200 Tgt 2254-2289.

Buy GMR Infra 58.80 SL 58.15 Tgt 60.10 - 62.50.

Buy Aban 821 SL 811 Tgt 837-855.

Buy GSPL 101 SL 99.50 Tgt 104-108.

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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