Market outlook and intraday tips for 8th Jan.

>> Thursday, January 8, 2009

Satyam’s fraud was the reason the market tank yesterday. Satyams ADR opened down 91%.

US markets ended lower on an average of 3%. Europe also ended lower.

Asia has opened negative.

India is bond to open negative. The trend in NIFTY is broken and one can see markets giving up gains.

I see a minor correction in NIFTY.

Now a support for Sensex is 8900 and resistance for up move at 10150.

And support for NIFTY is at 2740 and resistance for up move at 3125.

Day trading ideas.


Buy above 22.10 for targets of 22.90 and 23.50

Sell below 20.50 for targets of 19.80 and 19.10

Infosys tech.

Buy above 1197 for targets of 1209 and 1218

Sell below 1171 for targets of 1165 and 1160


Buy above 37.50 for targets of 38.20 and 39.25

Sell below 34.10 for targets of 33.50 and 32.60


Buy above 242 for targets of 246 and 251

Sell below 231 for targets of 228 and 225

Happy Investing!

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