Sunday, January 3, 2010

Indian Stock Market Outlook 04-Jan-2010 (Nifty, Bank Nifty and Stocks)

Nifty


Nifty will have huge resistance at 5250 tomorrow. Trading above 5250 with volumes nifty will move to 5283 and 5335.


If nifty is unable to trade above 5250, it will correct to 5197 levels.


On the downside 5172 is strong support for nifty. Breaking and trading below 5172, nifty future will be mercilessly slaughtered


to 5123 and 5090.


DLF - Bearish outlook


dlfshorttrade.JPG


DLF looks weak on charts. DLF future may be shorted around 368 with stoploss above 375 for targets 345 and 330.


Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

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