Market outlook for 28/10/09

A Big and Wonderful fall in recent times. The event of RBI credit policy made this. But the market fall was beyond 50 day ema.
Key Points :

• Negative Divergence in RSI
• MACD favouring Bears
• This is 13th Month from low of 2228.
• Running week is 53rd from 2228.
• Now, the target for nifty is 4780-4740.

Up side bounce can be expected from the mid day or end of the day for next day's f&o settlement.
Well we were telling about this fall to our subscribers from the last few days,
Some of the alerts given to all our subscriber;
21/10/2009: “ALERT : EXIT ALL LONG POSITIONS IF NIFTY BREAKS 5092”
16/10/2009 : “Short Nifty around 5135 for targets of 5100 SL 5146 (Those who can carry nifty for next week don't use SL”

NIFTY Technical
Current Spot: 4846.70
Pivot: 4798.40
3DEMA: 4921
7DEMA: 4983
50DEMA: 4887
Supports: 4798 - 4750
Resistance: 4925 – 5004

Target Nifty
Nifty Fut buy above 4906 tgt 4922, 4932, 4947, 4972 sl 4870
Nifty Fut sell below 4855 tgt 4840, 4825, 4799, 4774 sl 4906

Stock Ideas for the Day
Educomp: Buy Above 942 for targets of 949, 959 sl 918.1
Union Bank : Buy above 257 for targets of 261, 265 SL 254
Wipro : Buy above 604 for targets of 612 and 618 SL 600
TCS : Buy above 640 for targets of 648 and 654 SL 635

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

Thanks and Regards

S&P Wealth Creators

Call 09831497250 or mail us @ S&P Wealth Creators with your Name and Mobile No. for subscription offer of intraday calls during Market hours.

Disclaimer
The calls given here are My Personal views, trading or investing in stocks is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. S&P Wealth Creators will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert’s stock analysis or opinion.