Nifty 50 Weekly Outlook and Few Trading Ideas

By | January 26, 2009


Hi all

Happy Republic Day to all

Hope u all njoyed Long weekend.

Nifty has Closed below 2700 which was considered very crucial support.Now we are in a very precarious situation,If news on global front continue to be negative we can see levels of 2500 Nifty.

Please refer to the chart for my observation.So it’s better to exit on rallies,Upside capped to 2830

Stock Specific

LT can see a bounce till 675 in 2-3 days as it is in Highly Over sold zone.

Reliance now has support at 1120 and 1072 and resitance at 1187.

SBIN has posted good 3 Quater results can see a rally till 1100 Support is at 1011

Bank of india sell at cmp tgt 208 sl 243

Essar oil sell at cmp tgt 64 and sl 73

Ou SMS calls are also rocking Satyam gave us excellent return from 26 to almost 40 and rally will continue on Tuesday also

Unitech sl is hit and one should exit out of that.

Regards
Bramesh
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