Market outlook and day trading ideas for 18th Nov.

>> Tuesday, November 18, 2008

US markets were extremely volatile and end in red.

US markets were lower on an average of 2.5% - 3%.
Japan's economy, the second largest in the world, slipped into recession in the third quarter as companies slashed investment to weather the financial crisis, official data showed Monday. 
Asia is trading red.
I expect a weak opening for the markets.
Recession worries is shatering all good news. 
Crude is settled well below 60$.
The support for the Sensex is 8940 and the resistance to the up move is at 9505-9705
 
Nifty: (2799) the support for the Nifty is at 2630 and the resistance to the up move is at 2872-2927

Trading ideas -

Punj Llyod.
Buy above 174 for targets of 178 & 181
Sell below 166 for targets of 163 & 160

Jai Corp.
Buy above 95.60 for targets of 98.90 & 101.40
Sell below 89 for targets of 87 & 85.20

HDIL.
Buy above 112.60 for targets of 115.10 & 118
Sell below 105 for targets of 101 & 98

SBI.
Buy above 1156 for targets of 1162 & 1168
Sell below 1133 for targets of 1128 & 1124

Happy Investing.
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