Daily Market Outlook: 27 Feb 2009
Short Covering will make pullback rally in last hour and SENSEX shut shop at 8954, up 52 points and NIFTY at 2785, up 23 points from the previous close
NIFTY: (2786)
Nifty Now important level of 2705, if sustains then possible 2805/2835 if breaks 2700 level then 2630 also possible.
The Support for the Nifty is at 2730-2670 & the Resistance to the up move is at 2820/2835
BSE Sensex: (8955)
The Support for the Sensex is 8750 & the Resistance at 9030-9150
NIFTY FUT OI up 25.10% with 127% increasing volumes indicating forming of long positions.
We expect NIFTY FUT to trade positive.
NIFTY (2785.65)
Resistance : 2800 / 2815 / 2840 / 2880
Support : 2770 / 2745 / 2725 / 2705
SENSEX (8954.86)
Resistance : 9030 / 9125-50
Support : 8910 / 8830 / 8750 / 8700
NIFTY FUT (2766)
Resistance : 2805 / 2820 / 2835
Support : 2765 / 2745 / 2730 / 2695 / 2670
BANK NIFTY (3834.45)
Resistance : 3850 / 3910 / 4000
Support : 3770 / 3710
On Friday,Opening is Flat to Up,
Stay Long Above 2780-85,Sl below 2770,Tgt 2795-2810-2840,
Sustain Below 2760-55,Sell with Sl Above 2770,Tgt 2745-2730-2715-2705
BSE Listing of Equity shares of Shakti Press Ltd.(526841) on 27.02.2009.
Buy GRASIM Around 1450,Tgt 1510/50,Sl 1400
Buy TATA MOTORS Around 145,Tgt 155/60/65,Sl 135
Buy RELIANCE Above 1295
Buy BHARTI Above 650,Tgt 665/75/85,Sl 640
Buy BHEL Above 1405,Tgt 1440-1475-1495,Sl 1390
Buy ONGC Above 720,Tgt 740-755-765,Sl 710
Sell ITC Below 185,Tgt 180-175-165,Sl 190
Sell ICICIBANK Below 325,Tgt 315-300-295,Sl 330
Sell GUJ AMBUJA Around 66/67,Tgt 64/62/60,Sl 70
Sell RANBAXY Aound 180,Tgt 155/45,Sl 195
RENUKA MARCH FUTURE (81.55)
Buy Above 81.7.Tgt 83.15/84.4/85.2/86.4, Supports : 79.9/78.7/77.9
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