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Stock Market people learn nothing and forget everything.!
The market is weird. Every time one guy sells, another one buys, and they both think they're smart.

Friday, December 25, 2009

Market Outlook for 29 Dec

Hi ....

As in last post i mentioned market looks strong and it can give some gains.But the gains were really whooping.
We got short covering on 23 Dec that was much expected and this short covering gave a big boost on the Nifty. Market has broken all the resistance with quite a ease.

The important to note is that market has increased not only due to short covering of Future but there was also good amount of buying in the Cash Market. FIIs were net buyers of $288.90 million in equities on December 23 alone.

The momentum continued on 24 th Dec too. Nifty touched the high of 5197 (52 week high). But the closing is below the 5180. So we can assume that the 5180 resistance is still maintained .

But we have to see how the market performs after such a long holiday. Everything seems to be positive .

I am expecting a tug of war between the bulls and bears again at this crucial juncture.

What i feel it is better to wait and watch whether Nifty is able to break 5200 or not. If it is broken then long position should be made.

As if the profit booking or sell comes at this level then again we might take some time to get this levels back. So let see what happens on Tuesday as monday is holiday....

Till then enjoy 4 Days of Leave ....


Most of the expert feels market will move ahead :-

3:02 PM - In an F&O call, buy Nifty December futures with a target of 5200-5500 and stop loss of 5100, says Rajesh Jain, technical analyst, on CNBC Awaaz. » Send to friends
2:55 PM - In an F&O call, buy Nifty December futures with a target of 5250-5380 and stop loss of 5050, says Rahul Mohindar, technical analyst, on CNBC Awaaz. » Send to friends
2:51 PM - In an F&O call, buy Nifty December futures with a target of 5300 and stop loss of 5110, says Somil Mehta, technical analyst, on CNBC Awaaz. » Send to friends
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1 comment:

  1. AnonymousJanuary 8, 2010 at 3:21 PM

    Its really help us for trading investment.
    Carry on......... dada.

    ReplyDelete

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