Outlook for next week 06-10 OCt

By | October 5, 2008

Nifty views are updated in previous post.

Nifty can see a sharp pullback from 3650-3700 Level,Aggressive Put Writing is observed at this level.

Buy some 4000 call at Nifty around 3700-3750 Levels

Upside is limited to 3990 where 38.2% Retracement lies and 4009 where 50% lies.


Stock Specific

Reliance is a Buy at 1700 levels 30% and hold them more can be added at 1500 levels

SBIN stock is not breaking 1484 levels once it close below 1470 we can see a good downside coming till 1400.

Short SBIN above 1525

BHEL was a strong stock on Friday Wait for a correction and enter the stock at 1450 for a tgt of 1500 and 1550

Punj Lloyd
The daily MACD is exhibiting negative divergences along with a
crossover sell signal. This suggests that the trend is weakening. A
break below Rs260 levels will see the stock correcting for potential
target of Rs230 and Rs210 levels.
The stock has been consistently closing below its short and near
term averages for the past few sessions which suggest that the
stock is set to break below the 260 support levels. Keeping in mind
the above mentioned technical evidences, we recommend traders
to sell the stock at current levels and on rallies to resistance of Rs276-
280 levels for target of Rs210. A stoploss above Rs286.5 is
recommended on all short positions.

Divis Lab short at 1300 Levels for a tgt 1200 and 1000 Stop Loss 1321

Kotak bank sell below 531.50 sl 537 Tgt 520 and 508

Market Rumors

GVK power is going to enter atomic power plants.

HUL may declare 1:1 bonus.

Titan is sitting on very large reserve. A bonus is a clear posibility in near future.

Promoters of Premier Exploives are buying shares from the open market

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