Weekly Nifty Outlook (25/10/2010 - 29/10/2010)

Weekly Nifty Outlook for the week 25/10/2010 - 29/10/2010 :

 

Stay Bullish on Nifty Fut till it holds 6033.
Nifty Fut will face stiff resistance at 6149-6168 levels crossing & sustaining above which, it will
touch 6239 & 6336.
But, If fails to cross & 6168, Will be in a trading range 6033-6168.
Strong support lies at 6035-6041. Only if it breaks & sustains below 6033, it may touch 5937 & 5819.
Strategy should be to Buy on dips till it does not break 6033.

The Week ahead !!!!

 

Keep an eye on Rel Media & Essar Oil from a short term perspective.

 

ICSA (CMP 126-127). Accumulate on dips. Stock can
spark upto 140-155 levels if 120 is held.  

 

Sun Pharma Advance Research Company (SPARC) - Once bought at 91-92
& booked around 97...Can be again rebought on dips in small Qty till 88 is not breached
on a closing basis.

 

Nagarjuna Construction : Stock is trading in a 145-160 Range. Try to buy it at the lower limit of the Range & Hold patiently.

This stock is ripe for a good movement. One can buy a small Qty from a Medium Term View. May not give Quick Returns.
Patience is required.

 

 

Caution : Nifty Fut breaking 6033 & Closing below 5930 will prove risky for holding
stocks from a Delivery perspective. Reduce Volumes if 6030 is breached.