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Sunday, October 3, 2010

Weekly Nifty Outlook (04/10/2010 - 08/10/2010)

Stay Bullish on Nifty Fut till it holds 6063.
Nifty Fut will face stiff resistance at 6185-6203 levels crossing & sustaining above which, it will touch 6276 & 6321.
But, If fails to cross 6203, Will be in a trading range 6060-6205.
Strong support lies at 6034-6059. Only if it breaks & sustains below 6030, it may touch 5924 & 5834.
Strategy should be to Buy on dips around 6035-6055 till it does not break 6030.

Stock Ideas :

Hold IFCI as recommended in Last View. Also Hold IFCI 70 OCT Call Option. ( Recommended around 59-60 last week hit 66+)...Book partial & hold remaining.

Short Term Buy : Redington...CMP 87. Buy in dips & Hold. (Bought previously around 82-83 and booked around 97-98)


Also Keep an eye on National Aluminium. CMP 404. Buy a small Qty in any dip upto 395..

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