Market outlook for 25/11/09

Yesterday trading shows that the market took support at 5050 and flared upto 5110 but ultimately closed at 5090.55 -13 points.

• FII bought in cash, stocks futures and index options. Sold in index futures and stock options
• US markets were negative.
• Global cues are mixed.
• SGX nifty is in flat to positive.

Over all view: As seen from FII data there is no direction as of now. But as the market is facing resistance at higher levels one can go short if nifty breaks 5046 level.

NIFTY Technical
Current Spot: 5090.55
Pivot: 5086
3DEMA: 5080
7DEMA: 5048
20DEMA: 4981
RSI (7 days): 64.89
Supports: 5058 - 5026
Resistance: 5118 - 5168

Target Nifty
Buy Nifty above 5085 - 51101 - 5115 - 5120 - 5127 - 5188 SL - 5053
Sell Nifty below 5045 - 5026 - 5012 - 5001 – 4985 - 4975 SL - 5078

Stock Ideas for the Day
Reliance Industries: Buy above 2183 for targets of 2191, 2199, 2209 SL of 2175
Reliance Industries: Sell below 2172 for targets of 2162, 2153, 2145 SL of 2181
Bharti Airtel: Buy above 283 for targets of 285, 289 SL of 279
Tricom: Buy above 18.75 for targets of 19.5, 21 SL of 18
Ster: Sell below 856 for targets of 841, 827 SL of 872

Positional Call
Sical Logistics: Buy 63.7, Target 74, SL 57 (One Month)
Dena Bank: Buy 83.5, Target 94, SL 73 (2/3 Days)

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

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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.