Friday, February 5, 2010

Daily Trading Tips

Market Outlook
Yesterday market opened negative and saw sustained selling pressure through out the day and during last two hours session, selling pressure got intense. Nifty finally closed near day's low which is a bearish implication. Taking cues from the global markets, even today our markets may open negative. Market has strong support at 4750 levels, if Nifty breaks these levels, further selling pressure may be seen till 4700-4650 levels. On upside if Nifty move above 4900 levels then we may see some short covering in the market till 4950 – 5000 levels. Short term trend for the market is negative till the time Nifty is below 4900 levels.

ABB
Execution Price Range                   Stop Loss        Target
Sell Between Rs 790 to 798              800                782

PUNJLLOYD
Execution Price Range                   Stop Loss         Target
Sell Between Rs 180 to 184             187                   172 

JINDAL STEEL
Execution Price Range                   Stop Loss            Target
Sell Between Rs 630 to 636            640                       618

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