MARKET OUTLOOK FOR THURSDAY 20TH MAY 2010

GLOBAL CUES are dominating our MARKET. Few days ago i said that our market is in directionless direction wants to go up but global cues r not helping thats came true now.lets discuss some global market

1. HANG SENG: Supports at 18800—19200 resistance 20200. market hours till 1.30 pm india following this index along with strait times singapore.

2. STRAIT TIMES: Support at 2750 resistance at 2792–2804. INDIA moving with this index since march 2009.

3.DOW JONES: DOW BHAI kya kehna ish index ke baare mei. We are acting linke begano ki shaadi mei abdullah diwaana just bcos of DOW BHAI. Supports at 10180-10250 resistance at 10860.

4.FTSE: I am positive just bcos of ftse bcos i think INDIA wants to cross FTSE thats why everything happend lets see.Supports at 5080—5112 resistance at 5462

Now what next, no support in falling market just a resistance so nifty resistances are

4966—-4992—-5038—-5072—-5125

STOCKS TO WATCH

1. RELCAPITAL : buy on dips sl 560–580 closing basis tgt 950(positional)

2. SBIN:  SUPPORT AT 2160

3. UNITECH: SUPPORT AT 66 TGT CAN BE 76–82

4. RCOM: Its a good portfolio stock add to a portfolio

5  VIJAYABANK: ANOTHER BOR IS IN MAKING.

6. TATASTEEL:  POSTIONAL TGT 634

7. HINDALCO: POSTIONAL TGT 199

8. RELIANCE INDUSTRY: HOW CAN WE MOVE WITHOUT RIL

 

MARKET OUTLOOK FOR 19TH MAY 2010

MARKET NEEDS TO CROSS UPSIDE RESISTANCE OF 5125 FOR ANY UPMOVE, TILL THEN IT WILL REMAIN IN A RANGE OF 4950—5125.

NIFTY SPOT RESISTANCE IS AT 5125

NIFTY SPOT SUPPORT AT 4950

STOCKS TO WATCH

HEXAWARE : ITS A PURE BUY AT DIPS SL 64 TGT 96

RCOM: ITS ACCUMULATION TIME STARTED

DLF: ANYONE WHO IS PLANNING FOR NEW HOUSE IN NEXT 3YRS CAN BUY DLF AND HOLD IT FOR 2-3 YRS

TATA STEEL: ITS A PURE BUY ON DIPS

LARSON AND TUBRO: A GOOD TRADING COUNTER

SBI: HAMARA BANK ONLY INDIAN BANK TRUST IT.