Market outlook and intraday tips for 9th Jan.

>> Friday, January 9, 2009

US Markets ended mixed after a volatile start.

Europe ended marginally lower.

Asia is bonded to open flat to negative.

India is bonded to follow the same.

The support for the Sensex is 9100 and the resistance to the up move is at 10000

Nifty: (2920) the support for the Nifty is at 2800 and the resistance to the up move is at 3000

If markets open positive or up 300 odd points it is bonded to give up all its gain. If it opens week it can give a pull back or a short covering.

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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presscript January 9, 2009 at 1:15 PM  

Need your help. 9th January 08 I placed a short position in DLF at 215.50 and then covered it at 195 the trade was executed. Then i again made a short position at 165 with the thought that i will average if it goes above and buy the same at a lower cost and the same was suggested by my dealer. The stock jumped back to 195 and when i asked the dealer to short sell he refused to do so saying we now are not allowing any more trades in the stock for the day i.e i can square up my position but not make a new trade in this and even the margin for the day was reduced. Due to which i suffered a loss. Can i fight this? Please suggest.

Thanks Regards,