Market outlook and day trading ideas for 21th Nov.

>> Friday, November 21, 2008

Indian markets despite of good inflation numbers cracked badley due to global cues.

US markets yesterday saw a worst hit Dow down below 7550 points.
Europe was down over 3%.
Asia has opened weak.
Expect a gap down to flat opening in Indian Markets.

The support for the Sensex is 8649-8393 and the resistance to the up move is at 8775-8870

Nifty: (2553) the support for the Nifty is at 2500-2464 and the resistance to the up move is at 2754-2860

Day trading ideas.

Buy above 710 for targets of 716 & 723
Sell below 702 for targets of 696 & 690

Praj Ind.
Buy above 54.25 for targets of 56.30 & 58.80
Sell below 51.75 for targets of 49.10 & 47.90

Buy above 35.60 for targets of 36.90 & 38.70
Sell below 33.80 for targets of 32.50 & 30.70

Happy Investing.

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