Market outlook and intraday tips for 1st Jan.

>> Thursday, January 1, 2009

Hello people. Wishing you all a Happy 2009.

US Markets ended higher.

Europe ended marginally higher.

Most Asian Markets are closed on account of New Year.

Indian markets are now bonded to open positive.

We will surely have a good start in the beginning of the year.

The support for the Sensex is 9495 and the resistance to the up move is at 9675-9990

Nifty: (2959) the support for the Nifty is at 2900 and the resistance to the up move is at 3035


Day trading ideas.


Punj Llyod.

Buy above 150 for targets of 153 and 155.50

Sell below 143 for targets of 140 and 138


Satyam

Buy above 172.50 for targets of 175 and 178

Sell below 162 for targets of 159 and 156


ICICI Bank

Buy above 451 for targets of 455 and 459

Sell below 435 for targets of 430 and 428


Happy Investing!

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2 comments:

Dhawal J. January 1, 2009 at 9:17 AM  

Nifty EOD chart has formed Spinnig Top (This represents complete indecision between the bulls and the bears) and that too in extremely volatile market this suggest that there is clear chance of bear to grip the market. Double top is at 3000 level once it crosses then we may see some rally for the day only but I personally on a cautious mode as far as spinning top is concern. One thing to mention here is Nifty is within the range of trendline support (2895) and resistance (3075) level , once the market crosses this level then only we may see a continuation of trend of break out (3075)or breakdown(2895) level.

Happy New Year and Happy Trading to All

Dhawal J. January 1, 2009 at 9:32 AM  

Satyam buy on dips with positive bias with sl 162(yetreday's lo) T1 is 179 T2 184 once it crosses n sustain 179 level on clsing basis then trend will be bullish for some more days.
Lot of operator are in this counter.
Use Stricy SL.