Market Outlook
S&P CNX Nifty moved in a narrow range of 4780 to 4930 levels and finally closed flat to positive in the previous week. On higher side Nifty witnessed selling pressure around 4900-4930 levels whereas buying interest was seen around 4780-4800 levels. Now only range breakout on either side may give further direction to the market. On up side if Nifty sustains above 4930 levels then an up move towards 5050 levels may be seen in the market. On downside if Nifty falls below 4780 levels then selling pressure may intensify and Nifty may again test recent low of 4675 levels and below. Next upcoming week our Market will be highly volatile ahead of Feb month F&O
expiry and Union Budget 2010 so traders are advised to be stock specific, keep the position light or even hedge their portfolio by stock or index options.
MCDOWELL (UNITED SPIRIT)
Execution Price Range Stop Loss Target
Buy Between Rs 1330 to 1345 1325 1365
DRRDDDY
Execution Price Range Stop Loss Target
Buy Between Rs 1110 to 1125 1100 1152
LARSEN & TOUBRO (LT)
Execution Price Range Stop Loss Target
Buy Between Rs 1465 to 1485 1455 1515
