23-12-2010: What will be the market today?

Dear All,

 

Market is on crucial supports and resistances also, like 5940 and 6067. We can say range bound market is there.

But all the time, market is news driven, so manipulations are there. Based on some events like south and north Korea drill, people(Manipulators) are raising a false alarm causing fluctuations in the market, but make sure that it should not happen like "LANDGA ALA RE ALA" 

 

Banking sector will perform good may be of a 100 points gain will be expected, but IT sector is in correction mode, keep a eye of Hero Honda and Ispat Ind also, they may gets corrected.

  

Today market will be more volatile, compared to previous 2/3 days. Considering this, following are the supports and resistances for the market:

 

Nifty Support: 5958 - 5926 - 5900

Nifty Resist: 6019 - 6033 - 6069

 

Intraday Stocks:

1. Subex Ltd: Long position, up flag breakout
2. Bhartiartl: Long Position, up flag breakout
3. Jindal Poly: Long Position, up flag breakout
4. Oswal Chem: Long Position, up flag breakout
5. Tanla: Long Position, Bullish Kicker

F & O Stocks:

1. 3i Infotech: Short Position, Bearish Piercing
2. Adityabirlanuvo: Short Position, Key Reversal pattern at top
3. Bhartiartl: Long Position, 3 lines crossover
4. IT Index: Short Position, Bearish Kicker
5. DR. Reddy: Long Position, Double Bottom
6. Ranbaxy Lab: Long Position, Flag breakout
7. Sesa Goa: Long Position, double bottom
8. Wipro: Short Position, Bearish kicker

Delivery Stocks:

No Stocks

 

Sincerely,

Mrs. Anagha A. Bhave
[Technical Analyst]http://niftyweeklyoverview.blogspot.com/

Aabhineesh Total Solutions.1st Floor, Gajanan Krupa Apt,
Sadashiv Peth, Near Nagnath Par,
Pune 411030.

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