Archives : DAILY MARKET OUTLOOK : 09/12/2010


Nifty has breached key supports and has now tested the support at 5880. Any close below 5880, will lead the Nifty to the next strong support at Nifty - 5820 and Sensex - 19350.

Banking stocks are leading the current downfall. The small PSU banks which were the leaders of the upward rally are now leading on the way down too. Most of them have given a bearish reversal. Steel and Metal stocks have been holding strong and it is just a matter of time before they join the downward rally. So watch out for those stocks.

Sensex Resistance 19792-19877-19965. Support 19611-19526-19394.

Nifty Resistance 5937-5971-5999. Support 5878-5853-5821.

Sell Dena Bank 120 SL 122 Tgt 116-112.

Sell IDFC 174 SL 176 Tgt 169-164.

Sell Sintex 191 SL 194 Tgt 186-180.

Sell IOB 137 SL 139 Tgt 133-129.

Sell HDFC Bank 2288 SL 2303 Tgt 2258-2227.

Sell Andhra Bank 147 SL 149 Tgt 143-138.

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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