Market outlook and day trading ideas for 14th Nov.

>> Friday, November 14, 2008

Its Childrens day so is I can say Indian Day as India is a child if compared to US , Japan , Germany etc.  Today market is to cheer with positive Inflation and good global cues.

US ends up 6.5% as Wall Marts profits rise.
Asia is trading higher.
Yesterday we were closed thats good as we would have had a negative opening of atleast 4% if otherwise.
Inflation comes at 8.98 % in single digits compared to 10.72 % last week.
Markets likely to open a positive note of atlest 300 points on Sensex.
More over crude is below 60$ a barrel.
The support for the Sensex is 9321-8940 and the resistance to the up move is at 9705.
Nifty: (2848) the support for the Nifty is at 2746-2630 and the resistance to the up move is at 2900.

Day Traing Ideas.

Crain India
Buy above 141 for targets of 143 & 146
Sell below 135 for targets of 132 & 130

Reliance Industry
Buy above 1172 for targets of 1176 & 1181
Sell below 1161 for targets of 1156 & 1151

Bank of Baroda
Buy above 285 for targets of 291 & 295
Sell below 272 for targets of 269 & 265

Happy Investing.

I would rather go short on Reliance Ind. as Naptha is their main product and is down 33% WoW.
So be cautious.

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