Market outlook and intraday tips for 31st Dec.

>> Wednesday, December 31, 2008

US markets have ended higher after the news came out that FED is buying out mortgage backed securities.

Europe ended a higher note.

Indian markets will have a gap up opening.

The support for the Sensex is 9495 and the resistance to the up move is at 9875-9990

Nifty: (2980) the support for the Nifty is at 2900 and the resistance to the up move is at 3035

If we open too higher we will face a stiff resistance above 10115.

If we have a huge gap up be prepared to slowly give up all its gains.

Day Trading Ideas


Buy above 164 for targets of 169 and 174

Sell below 149 for targets of 146 and 143

Sesa Goa

Buy above 87 for targets of 88.90 and 90.15

Sell below 83 for targets of 81.50 and 80.10


Buy above 58.50 for targets of 59.20 and 60.25

Sell below 54.25 for targets of 52.25 and 51.20

Happy Investing!

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Sam December 31, 2008 at 7:45 AM  

Hi whats up man.
This is Sam from college.
Man just teme what u think of Satyam's future outlook.
Thanks buddy.

Chirag December 31, 2008 at 8:04 AM  

Hey sam how u doin man.
Satyam is a stock which has loads of operators manupilating in it.
I can give good returs if bought at 130 range and kept for a year or so.
I bought Satyam at 128 and sold off at 155.
And now will buy if it comes in 130 range.

seenu301 December 31, 2008 at 8:17 AM  

hai chirag how are you?
what is the future prospectus of IDFC , already bought 1000 shares @ Rs 61, give ur coomant.

thanks a lot,

Chirag December 31, 2008 at 1:22 PM  

@ Senu3001 - IDFC I say is a HOLD for a movement.
It is giving upsides.
Hold and Book profits at higher level.
Keep patience.

Sagar December 31, 2008 at 2:05 PM  

hi chirag!! thanks for all your recommendations on your blog !! can you suggest a buying level for Deccan Gold Mine and Sejal Architectural Glass.


Chirag December 31, 2008 at 5:04 PM  

Go for Sejal Architectural Glass a good stock for long term. Gives good dividend too.
Go for it.
While Deccan Gold mines is not that good.