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Market Outlook -
February 11,
2010 |
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Asia is quite buoyant this morning with most
markets trading 1% up on average the sole
exception is New Zealand trading 0.50% down. The
US market finished marginally lower.
Today, we need to watch out for a particular
level in the Nifty below which the Nifty would
be quite weak: if the index stays below 4728
then it would turn weak again and further fall
to below 4700-levels could be quite likely.
On the other hand, if it manages to move up and
stay beyond 4784 then we should expect it to
retest 4826 – 4842 range; however, to show any
real strength in any recovery attempt it needs
to get past and stay above 4891. Unless it does
so its recovery swings would be aborted.
The range between 4790 and 4820 would continue
to bring in supply pressure. So, we must be
careful in taking fresh positions just below
this range and within this range.
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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