Archives : DAILY MARKET OUTLOOK : 29/10/2010


The volatility witnessed yesterday in the last one hour of trading has unnerved many market participants. It was surprising to see the Nifty futures premium of around 80 points by the close. So may be one can expect some positive start to the series.

Nifty has critical support levels at 5960 levels and a breach of that level will confirm a Bearish Head & Shoulders pattern breakout. On the higher levels Nifty needs to close above 6105 to resume an upward trend.

Sensex Resistance 20088-20145-20267. Support 19842-19757-19512.

Nifty Resistance 6013-6037-6073. Support 5963-5935-5901.

Buy Hero Honda 1907 SL 1882 Tgt 1933-1965.

Buy IDBI 180 SL 178 Tgt 186-192.

Buy Alok 27.10 SL 26.30 Tgt 29.00 - 30.85.

Buy STFC 842 SL 828 Tgt 866-892.

Buy Bata 346 SL 341 Tgt 355-365.

Buy Skumars 81 SL 80 Tgt 84-87.

Buy Jubiliant Food 528 SL 521 Tgt 541-557.

Buy City Union Bank 50 SL 48 Tgt 54-58.

Buy Munjal Showa 71 SL 68 Tgt 75-79.

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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