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Market Outlook -
March 26,
2010 |
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Our market is likely to test the higher levels
of Nifty 5268 today; what remains to be seen is
whether it can move above that level and stay
there. On the downside, we need to see if the
Nifty manages to sustain above 5239 – 5232 range
for this would be the crucial support range for
the day and the index should not sustain below
this range if it had to go up and test higher
levels.
Beyond 5281, the next levels to watch out for
would be 5281 and 5293. Once these two levels
are crossed there is a real possibility of the
market going beyond 5310.
On the downside, today, if the market were to
fall below 5218 – 5208 range then only expect
any significant weakness that might take it down
to 5180. Else, expect strength to continue.
What we anticipate is a likely to test of the
support range between 5243 and 5232 but
eventually it would move up higher. We feel this
is a market for buying on declines.
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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