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Tuesday, November 08, 2011

Market outlook at 09.11.11

Nifty traded range bound. It was a choppy day. The Nifty closed with a 5 points again, after recovered from day's low.
Sensex closed flat up only 6.92 points at 17569.53. The NSE Nifty was up 5.15 points at 5289.35. BSE Small cap index lost 0.2%.
Market was entered into a consolidated mode next move. Market was recovered in the last hours due to the up move in European market.
The expected events in European market are cabinet' session in Greece, Italy's PM's confidence vote and meeting of European Union Finance Ministers.
SBI gained over 1.7% today. The market breadth was negative with advances 570 against declines 730 on NSE

Share/Future:

Above 5329 Nifty may try to hit 5344.50/5362/5381.19 & 5399.50
Nifty has to break & sustain above 5365 to continue its upward journey.

On down side below 5310.60 Nifty may try hit 5295.20/5277 further drop will be there if Nifty breaks below 5258 & 5240.

Voltas buy at 107.75 SL 93.20 TGT 121
HDIL buy at 101.15 SL 96.70 TGT 105/110