Market Outlook
Yesterday S&P CNX Nifty opened negative and moved in a narrow range of 4830 to 4885 levels. In view of negative global markets, today our market may open negative and move in a range bound manner. On downside if it stays below 4820 levels then selling pressure may get intense in the market whereas on upside if it moves above 4930-4950 levels then only a further up move may be seen in the market. Till the time Nifty doesn't move above 4950 or below 4750 levels, no clear direction can be found in the market. Market will be highly volatile ahead of Feb month F&O expiry, followed by Union Budget 2010. So traders are advised to keep the positions light or even hedge their portfolio by stock or index options.
TCS
Execution Price Range Stop Loss Target
Buy Between Rs 752 to 762 746 780
GAIL (GAS AUTHORITY)
Execution Price Range Stop Loss Target
Buy Between Rs 400 to 408 396 420
M&M
Execution Price Range Stop Loss Target
Sell Between Rs 985 to 995 1005 960
