Sep/090
Indian Stock Market Analysis-30th Sept 2009
Yesterday market traded firm in narrow range lead by IT and Health care stocks. Nifty made high of 5020.25 but unable to cross resistance level 5040, closed at 5006.85
Today Asian markets trading mix signaling flat opening of Nifty at 5000 level. Nifty has major resistance at 5040,closing above which can take Nifty to 5120,5200 level. Major support at 4900,closing below which can drift down Nifty to 4800.Market may trade volatile with positive bias today. We will be in favor of long side today in specific stocks.
Hot stock to Buy today - Sesagoa, OFSS
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Sep/090
Indian Stock Market Analysis-29th Sept 2009
Market traded mildly choppy last week due to weak global cues and F&O expiry. Nifty made higher high on weekly basis but lower high on daily basis,closed at 4958.95
Today major Asian market trading positive signaling gap up opening of Nifty at 5000 level. Nifty has major resistance at 5040,closing above which can take Nifty to 5120,5200 level. Major support at 4900,closing below which can drift down Nifty to 4800. Over all market will remain positive today,may be for couple of days. We will be in favor of long side today.
Hot stock to Buy today - Suzlon, M&M, Tisco
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Sep/090
Indian Stock Market Analysis-25th Sept 2009
Yesterday despite of weak opening and negative global cues, market recovered in later part of day lead by Banking and Oil stocks.
Today major Asian market trading negative signaling gap down opening of Nifty at around 4940 level. Nifty has major resistance at 5040,closing above which can take Nifty to 5120,5200 level. Major support at 4930,closing below which can drift down Nifty to 4800. Not prefer to carry any side position for next week due to 3 days mini vacation.
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Sep/090
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Sep/090
Indian Stock Market Analysis-24th Sept 2009
Yesterday market ended weak after five consecutive days of gains. Due to F&O expiry week the volatility was expected and now any correction would be healthy, allowing the market to consolidate before it makes any fresh upmove.
Today major Asian market trading weak signaling gap down opening of Nifty at around 4920 level. Nifty has major resistance at 5040,closing above which can take Nifty to 5120,5200 level. Major support at 4930,closing below which can drift down Nifty to 4800. We are not in favor of long today,will wait for right level to enter again.
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Sep/090
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Sep/090
Indian Stock Market Analysis-17th Sept 2009
Yesterday market gave strong gain lead by Metal and Banking stocks.Nifty crossed and closed decisively above resistance level 4950, closed at 4958.40
Today major Asian market trading positive signaling gap up opening of Nifty at around 4990 level. Further upside can be up to 5050 level. Nifty has major support at 4890 now,closing below which can drift down Nifty to 4800 level. Market is showing tremendous strength since last few trading sessions as seen in march month when Nifty starting moving up from 2600 to 3200. If this is the pattern market following this time then Nifty can go up to 5200 level in short term. However little jerk on down side not ruled out.
Hot Stock to Buy today- GTOffshore, ISPAT, Siemens
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Sep/090
Indian Stock Market Analysis-16th Sept 2009
Yesterday market traded firm for entire trading session lead by Metal, Banking and Realty stocks. Nifty made higher high, higher low closed at 4892.10
Today major Asian market trading firm signaling gap up opening of Nifty at around 4950 level. Nifty has support at 4860, closing below which can drift down Nifty to 4780. Major resistance at 4950,closing above which can take Nifty to 5050 level. We will trade intraday in long side today in specific stocks.
Hot Stock to Buy today-M&M, Adityabirlanuvo
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Sep/090
Indian Stock Market Analysis-15th Sept 2009
Yesterday market traded with negative bias in narrow range. Nifty made lower high, lower low closed marginally down at 4808.60.
Today Asian market trading marginally up signaling gap up opening of Nifty at around 4820 level. Nifty has major support at 4780, closing below can drift down Nifty to 4670 level.We are at a critical juncture with a very narrow trading zone just overhead and rising wedges forming on the index. Nifty can move up to 5050 level if close above 4890 but need some consolidation or dip to reset charts for further upside movement.
Hot Stock to Buy today- Patni, Tatasteel
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Sep/090
Indian Stock Market Analysis-14th Sept 2009
Last week market has given strong gain lead by Reliance, Metal and Banking stocks. Market trading volatile since last 3 trading session in narrow range. Market breadth remained negative in last 3 trading session on profit booking. Nifty has given break out above 4750 level but faced strong resistance at 4875, closed at 4829.55.
Today major Asian market trading negative signaling gap down opening of Nifty at around 4810 level. Nifty has major support at 4780, closing below can drift down Nifty to 4640 level. Nifty may move up to 5050 level but need some consolidation or dip to reset charts for further upside movement. We will be not in favor of long side at present. Need to be cautious at this level as many indicators on chart showing highly overbought market situation.
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