Market Outlook
S&P CNX Nifty is moving in a narrow range of 4740 to 4930 levels since last couple of weeks. On higher side Nifty is witnessing selling pressure around 4900-4930 levels whereas buying interest emerges around 4750-4780 levels. Now only a breakout on either side may give future 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 or even lower levels. For next few days, our Market will be highly volatile ahead of Feb month F&O expiry, followed by 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.
BPCL(BHARAT PETROLEUM)
Execution Price Range Stop Loss Target
Sell Between Rs 590 to 600 605 575
RELINFRA
Execution Price Range Stop Loss Target
Sell Between Rs 980 to 1000 1015 940
RELCAPITAL
Execution Price Range Stop Loss Target
Sell Between Rs 730 to 745 752 708
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