Welcome to All: Market Outlook for 22nd April 2009

Wednesday, April 22, 2009

Market Outlook for 22nd April 2009

Trading Calls 22nd Apr 2009
USE STRICT Stop Loss for todays trading
+ve Sector & Scripts : Bajajholding,
BUY HUL-242 for the target 250 stop loss 240
BUY TVSMotor-27.9 for the target 31 stop loss 26.50

SHORT Infy-1362 @ 1380 for the target 1348 stop loss 1389
SHORT Maruthi-788 @ 795 for the target 765 stop loss 802

SHORT REL-673 @ 680 for the target 655 stop loss 686

Strong & Weak futures
This is list of 10 strong futures:

Essar Oil, Purva, Yes Bank, Uni Tech, HDIL, Peninland, LITL, Gitanjali, S Kumar Syn & Wel Guj.
And this is list of 10 Weak Futures:

Sterling Bio, Divi's Lab, Titan, Cairn, TCS, J & K Bank, National Alum, NTPC, Colpal & Infosys Tech.
Nifty is in Up Trend

NIFTY FUTURES (F & O)
Above 3382 level, expect short covering up to 3395-3397 zone and thereafter expect a jump up to 3421-3423 zone by non-stop.

Support at 3335 & 3356 levels. Below these levels, selling may continue up to 3294-3296 zone and thereafter slide may continue up to 3254-3256 zone by non-stop.

Below 3241-3243 zone, expect panic up to 3201-3203 zone by non-stop.

On Positive Side, supply expected at around 3434-3436 zone. Stop Loss at 3461-3463 zone.

Short-Term Investors:
Bullish Trend. 3 closes above 2951 level, it can zoom up to 3661 level by non-stop.

BSE SENSEX
Beware of false signal. Higher opening expected & Profit booking should happen.

Short-Term Investors:
Short-Term trend is Bullish and target at around 11967 level on upper side.

Maintain a Stop Loss at 10172 level for your long positions too.

GLOBAL CUES & RUPEE

The Dow Jones Industrial Average closed at 7,969.56. Up by 127.83 points.

The Broader S&P 500 closed at 850.08. Up by 17.69 points.

The Nasdaq Composite Index closed at 1,643.85. Up by 35.64 points.

The partially convertible rupee ended at 50.43/44 per dollar on yesterday, below
Monday's close of 50.33/34.

SPOT LEVELS