Market outlook for 01/09/09

From last 3 days, I was indicating Nifty Future will face hurdle at 4755 level. Above this level only it will show strength. Have you seen Miracle on Friday it kissed 4754 & freefall started.
Yesterday Support levels were 4651-4625. Below 4625 it will be Bloodbath. By God grace it kissed 4632 & Intraday zoomed to close at 4673.
Just watch 4651-4625 level. If breaks 4625 with volumes then only problem for Bull’s.
Break below 4625 will create all round panic and nonstop slide upto 4548-4522 not ruled out.
Hurdles : 4697, crossover with volumes will take to 4722-4729 level.
Yesterday’s hrly/5 minute chart indicates by 10:30….Nifty Future will hit Top.

• Huge Intraday volatile move to continue.
• Midsession…Bears will have upper hand.
• You all just remember: 4625...Nothing else.

Again writing, If Global Markets are not falling in next 8-15 days. I am again warning we can see worst freefall of life in October ‘09.So is better market slide in this month itself….other wise big fall in larger magnitude of Year 2008 or 1987 not ruled out.

 

NIFTY Technicals:
Current Spot: 4662.10
Pivot: 4670.30
Supports: 4627 & 4591
Resistance: 4706 & 4749

 

SELL NIFTY BLW 4640 TGT 4620,4580
BUY NIFTY ABV 4677 TGT 4698,4735

 

Stock Idea for the Day
Bharti Airtel Buy above 430 - 434 - 439 SL - 426
Ivrcl Infra Buy above 367 - 371 - 375 SL - 364
IFCI Buy above 56.65 - 57.70 - 58.35 SL - 55.20
Unitech Buy above 108 - 112 - 114 SL - 105
KFA Buy above 48.50 – 50 - 52 SL - 46.50
NTPC Buy above 212 – 214 – 217 SL 209
Reliance Industries Sell below 2000 - 1978 - 1965 SL - 2018
Sell IDEA below 81 with a Stop Loss of 82 for a target of 78.
Sell BPCL below 505 with a Stop Loss of 510 for a target of 496.

 

Use strict STOP LOSS in each and every trade in this kind of volatile market and Trade at your own risk.

 

Thanks & Regard

 

Market Pulse S&P Team