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Market Outlook -
April 15,
2010 |
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World equity markets are quite buoyant and Asian
markets are moving up this morning. Chances are
we would see a gap up opening today. In early
morning trade, the SGX April Nifty is trading at
5379 at Singapore albeit on low volumes. It is
up by nearly 50 points.
Today, once again-if the mood continues to be as
jubilant as it is now-we can expect once again a
battle being fought by the bulls and the bears
around the Nifty level of 5389. Before that 5364
and 5377 are two minor supply pressure points to
contend with. However, how does the Nifty
negotiate with 5389 remains to be seen? As
commented earlier, once 5389 is taken out
decisively then the 5400-mark would also be
crossed without much ado.
Above 5400, the levels of 5415 and 5440 would be
two targets to watch out for. However, the level
of 5459 would, most likely, be another big
supply zone.
On the way down, below 5380, one should watch
out for 5377, 5364, 5351 and 5335. Below that
the range between 5312 and 5291 would give
string support in case there is any sell-off.
Rajat K. Bose |
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| Notes: |
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All prices relate to the NSE, unless otherwise mentioned. |
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Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there. |
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Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits. |
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Don't chase a stock, if you are unable to buy a stock because it hits circuit levels on successive days, don't buy that. |
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The analyst and his clients may or may not have positions in the securities mentioned above. |
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Trading involves considerable risk. Trade at your own risk to the extent you are comfortable. The analyst shall not be responsible for any losses incurred for acting on these
recommendations. |
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Rajat K Bose
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