MARKET OUTLOOK 
                         OCT 27, 2009

                        

 

SUPPORT

TODAY’S MARKET LEVELS

RESISTANCE

2

1

1

2

16540/494

16706/606

SENSEX – 16740.50

16779/840

16902/939/990

4909/4895

4961/30

NSE - 4970.90

4983/5002

5021/32/48

 

                   OVERVIEW & BRIEF TECHNICAL

 


Market may bounce for minor up wave

Despite positive global cues, Indian market remained under pressure but, at the same time failed to exhibit faster retracement on the 5th day. It registered a low of 16706 instead of breaking below 16606 by Monday.

This indicates trend may have changed from 17493 to probably sideways but termination is yet to come. And hence, one minor up wave must be in the offing to meet the termination at failure point.

787 points drop from 17493, has turned the bias negative. Now, any up wave creating a lower High will cause momentum to turn negative. Some weakness will be seen below 16706 and strength above 16939.

Failure to cross above 16939 will be construed as negative for the market. Traders are advised to trade cautiously by following those levels. Supports for the day are at 16706/16606/16540/16494 and resistances are placed at 16779/16840/16902/16939/16990.

 

 

 

 

LONG TERM MARKET VIEW ... Authored in Sept. 2005
(Latest long term view will be updated soon)

 

          TRADERS PARADISE
        A Profitable Day-Trading Product

                 This is a unique product for intra-day trading with high success rate. Traders must see
                  that their trades are squared off at the end of the day. Do not carry any position home.

              (READ HOW TO USE THIS TABLE)

                                                                   

 


 

STOCK

 

 


 

CMP

 


         SUPPORT

 

 


 

RECOMMENDATIONS

(If limits does not come, sell below S1)



 

S/LOSS

 


RESISTANCE


S2


S1


R1


R2

 

EDUCOMP

 4705 4620 4675 Go Short on rise at R2 @ 4805/4810 with a given stop-loss. 4866 4763 4820/65

L & T

 1579 1554/30 1572 Go Short on some rise @ 1590/1594 with a given stop-loss. 1616 1592 1614

PNB

 846 827 842 Go Short on some rise @ 854/858 with a given stop-loss. 868 856 867

REL CAP

 859 835 855 Go Short on some rise @ 868/872 with a given stop-loss. 883 870 882

 

                      (OPEN CALLS OCT. 2009)
                      SMART TRADERS DWELLING RING
                                  RIDE THE TREND TILL THE WEIGHT OF EVIDENCE INDICATES THAT IT HAS REVERSED
                              (DERIVATIVES PICKS
                             (Future prices)
                         
               (If given limit does not come but (NIFTY or Stock trades) beyond T1, you may choose to trade for T2 in desired direction)

STOCK

CALL STARTED ON

TRAD INST

TREND

LONG/
SHORT

S/L

TARGET

TARGET ACHIEVED ON

NO OF DAYS

% RETURN

T1

T2

T1

T2
                       
NIFTY 27/10 FUTURE  DOWN SELL @ 4996/5002 5044 4965 4920  

OPEN

    
NIFTY 23/10 FUTURE  DOWN SELL @ 5014/5018 5069 4972 4930/10  

CLOSED 26/10

 2 Day (T1 reached) 6.9%
NIFTY 22/10 FUTURE  DOWN SELL @ 5088/5092 5124 5058 5028/10  

CLOSED 22/10

 1 Day 7.5%
NIFTY 20/10 FUTURE  DOWN SELL @ 5134/5138 5166 5116 5080/40  

CLOSED 20/10

 1 Day 5.6%
NIFTY 14/10 FUTURE  UP LONG @ 5081/5083 5012 5130 5160  

CLOSED 14/10

 1 Day 6.7%
NIFTY 12/10 FUTURE  DOWN SELL @ 4966/4974 5007 4918 4865/25  

CLOSED 12/10

 1 Day -5.7%
NIFTY 09/10 FUTURE  DOWN SELL @ 5017/5024 5053 4998/64 4936/04  

CLOSED 09/10

 1 Day 13.7%
NIFTY 08/10 FUTURE  DOWN SELL @ 5022/5028 5081 4964/20 4870  

CLOSED 08/10

 1 Day 8.1%
NIFTY 07/10 FUTURE  DOWN SELL @ 5075/5080 5111 5046 4996  

CLOSED 07/10

 1 Day 12.6%
NIFTY 06/10 FUTURE  DOWN SELL @ 5026/5032 5056 4995 4972  

CLOSED 06/10

 1 Day 8.9%
NIFTY 05/10 FUTURE  DOWN SELL @ 5039/5037 5091 5005 4992/72  

CLOSED 05/10

 1 Day 5.7%
NIFTY 01/10 FUTURE  UP LONG @ 5042/5052 4989 5080 5130/70  

CLOSED 01/10

 2 Day 5.9%
NIFTY 29/09 FUTURE  UP LONG @ 4966/4968 4929 5008/27 5048/75  

CLOSED 30/09

 2 Day 16.8%
NIFTY 25/09 FUTURE  UP LONG @ 4962/4966 4919 5010/27 5048/75  

CLOSED 25/09

 1 Day 6.7%

 

Feedback and comments are invited from the readers.

analyst_mhk@hotmail.com

 

To subscribe, please click here

 

DISCLAIMER:  Author's recommendations are solely made with the purpose to educate the market participants/traders/investors and to enable them to derive maximum benefits by acting upon them. While due care has been taken in preparing these comments, no responsibility will be assumed by the author for the consequences whatsoever, resulting out of acting on these recommendations.