Market outlook for 13/11/09

Yesterday trading shows that the markets faced resistance at 5020 (previous day high) zone not even reached 5045 and nifty closed at 4952.65.

• FII data first time sold more in stocks futures and index futures but bought a little in cash.
• F&O nifty futures shed open interest small range.
• US markets are in red.
• Global cues are in red.
• SGX nifty is in red.
• Technical indicators are bullish.
• Nifty support 4917 resistance is 5050.

Over all view: As seen from the FII activity let us see today's trading for confirmation whether the fall is a correction or a continuation. If nifty falls below 4870 the mid term correction is on the cards.

NIFTY Technical
Current Spot: 4952.65
Pivot: 4963.90
3DEMA: 4941
7DEMA: 4889
50DEMA: 4853
RSI (14 days): 54.07
Supports: 4913 - 4874
Resistance: 5003 - 5054

Target Nifty
Buy Nifty above 4979 - 4998 - 5005 SL - 4963
Sell Nifty below 4954 - 4930 - 4912 SL - 4978

Stock Ideas for the Day
Reliance Industries: Buy above 2112 for targets of 2121, 2135 SL of 2095
Reliance Industries: Sell below 2084 for targets of 2076, 2067 SL of 2101
Century Textile: Buy above 492 for targets of 498, 506 SL of 485
Gujarat Sidhee Cement: Buy above 18.35 for targets of 19.05, 19.90 SL of 18.05
Piramal Glass Ltd.: Buy above 61 for targets of 62.1, 63.5 SL of 60

Positional Call
Mudra Lifestyle Ltd. buy at 102 (Short term target- 43)
Puravankara Projects buy at 34 (Short term target - 135)
Jain Studios Limited buy at 11 (Short term target- 13)

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.