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Thursday, November 17, 2011

Market outlook 18.11.2011

It was a disappointing performance by the Indian market. Sensex closed at 16461.71, 314.16 points down and Nifty at 4934.75, 95.75 points down. Both benchmark indices closed with about 2%. Reliance was the top loser among heavy weights. BSE small cap index was down 1.1%

Nifty on 18.11.2011

Nifty is now below it's significant support level of 4950 & it's psychological support level 5000. But some relief rally expected at current levels. The strategy is sell in rally.

Sell Nifty around 5020, if relief rally is there, TGT 4913/4885 SL 5074

Buy Nifty around 4903/4913 SL 4856 TGT 4975/4998/5020

Share tip

Hindoilexpo buy around 120 SL 92.75 TGT 158.60/180 - 6 months