Market outlook for 18/11/09

Yesterdays trading shows that markets opened up and went down to touch 5007 and taken U-turn closed flat at nifty 5062 +4 points.

• FII data shows, sold in stocks & Index futures.
• F&O data nifty future shed open interest.
• US markets were closed at new high.
• Global cues are flat to positive.
• SGX nifty is flat to Negative.

Overall View : As per 2 days trading FII sold in stocks and index futures and F&O nifty future shed open interest. Hence, it is expected though the market is in green for the coming day book profits in all longs. One can short below nifty 5025.

Always remember :“Wisdom is knowing what to do. Skill is knowing how to do it. Virtue is getting it done.”

NIFTY Technical
Current Spot: 5062.25
Pivot: 5048.80
3DEMA: 5038
7DEMA: 4979
50DEMA: 4867
RSI (7 days): 68.31
Supports: 5024 - 4985
Resistance: 5087 - 5113

Target Nifty
Buy Nifty above 5075 - 5087 - 5100 -5112 - 5131 SL - 5055
Sell Nifty below 5036 - 5023 - 5004 - 4984 - 4972 SL - 5065
Buy Bank Nifty above 9315 - 9360 - 9400 - 9430 - 9488 SL - 9280
Sell Bank Nifty below 9250 - 9215 - 9180 - 9120 - 9070 SL - 9300

Option & Futures Call
Buy Ranbaxy 420 Put option @ 13.80.TARGET 25, 30. Postional call.

Stock Ideas for the Day
Reliance Industries: Buy above 2131 for targets of 2142, 2155 SL of 2124
Reliance Industries: Sell below 2120 for targets of 2115, 2099 SL of 2128
Bharti Airtel: Buy above 300 for targets of 303.6, 307.2 SL of 297
RNRL: Buy above 73.9 for targets of 74.50, 75.30 SL of 73.1
Tamilnadu Petroproducts Ltd: Buy above 21 for targets of 22.3, 24.1 SL of 19.6

Positional Call
Elecon Engg: Buy 84.70, Target 100, SL 75
Time Technoplast Ltd: Buy 37.30, Target 47, SL 33

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.