Friday, August 22, 2008

OUTLOOK FOR TODAY 22ND AUG

NIFTY FUTURES (F & O)

Hurdle at 4315 level. Above this level, expect relief rally up to 4367-4369

zone by non-stop.

Support at 4261 & 4277 levels.

Do remember that, 4207-4209 zone should not be allowed to break at any cost.

On Positive Side, rallies up to 4419-4421

zone can be used to sell. But Stop Loss is too far on upper side and can be place at 4505-4507 zone.

Short-Term Investors:

Reversal (Negative) is seen. Exit on rallies.

Short-Term Upward Target at 4557-4559 zone.

Short-Term Support at at 4155-4157 zone.
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HDFC BANK (NSE Cash):

Book Profits in this scrip. Yesterday's fall might be false signal and have caution.

Hurdle at 1253 level. Supply expected at around this level. This supply should get absorbed too.

Support at 1156 level.

Should not be allowed to break at any cost.

NTPC FUTURES (NSE): Book Profits in this scrip. Yesterday's fall might be false signal and have caution.

Hurdle at 188 level. Supply expected at around this level. This supply should get absorbed too.

Support at 167 level.

Should not be allowed to break at any cost.

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The Dow Jones Industrial Average closed at 11,430.21. Up by 12.78 points.

The Broader S&P 500 closed at 1,277.72. Up by 3.18 points.

The Nasdaq Composite Index closed at 2,380.38. Down by 8.70 points.

The partially convertible rupee <INR=IN> ended at 43.51/52 per dollar on yesterday, stronger than Wednesday's close of 43.70/72.

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