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Market Outlook - January
11,
2010 |
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Looking at the indices of most of the markets,
once again, it appears that there is likely to
be some correction in the equity markets across
the globe especially in large cap stocks while
the rally in mid and small cap counters may
still continue.
The Nifty continues to find it difficult to move
and sustain above 5300-mark. It is not going to
be easy in any case. As we noted earlier, even
if it manages to clear 5305 – 5314 range it
would once again meet with considerable hurdle
between 5346 and 5350. The level that is going
to create maximum problem for the index is
located at 5388. This won’t be crossed at one go
and may take considerable time to clear it even
if an intraday breach happens if at all.
On the downside, however, once the Nifty falls
below 5230 it raises the possibility of a retest
of 5184 or lower levels. The range between 5184
and 5155 would again act as a good support area.
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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