Market Outlook and day trading ideas for 29th Oct.

>> Wednesday, October 29, 2008

US markets rallied almost 11% on the higher side.
Dow has crossed 9K mark and so has the Sensex.
Asia is trading Green.
Europe had a good time around.
We will see a gap up opening on Sensex and Nifty.
I expect this is a short covering.
Impressive gains on Festive times.

The support for the Sensex is 8740 and the resistance to the up move is at 9291-9784

Nifty: (2685) the support for the Nifty is at 2585 and the resistance to the up move is at 2786-2951

Sensex can cross 9400 mark.

Day trading ideas / levels.
Buy above 172 for targets of 178 & 184
Sell below 166 for targets of 160 & 154

Buy above 45 for targets of 46.90 & 48.85
Sell below 43 for targets of 41.10 & 39.25

Happy Investing.
Happy Diwali.

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