Date 20th Dec 2010 Powered by Bazaaredge.com
Market Outlook
Market are expected to remain volatile. Long term trend is up. Weekly chart show fear for the investor as the index has been taking support around its short term 20week moving average for the last four weeks. Nifty has formed a hammer pattern on both daily and weekly charts which indicates that bulls are strengthening.
A pre holiday mood prevail due to which there will be range bound trading ahead ithe Christmas holiday as there will be a slowdown in the activity in December end.
Intraday Calls
Buy Wipro cmp 470 stoploss 459 target 485
Buy Tatasteel cmp 660 stoploss 647 target 668
Buy Hcltech cmp 449 stoploss 440 target 460
Positional Calls
Buy Jubilant cmp 279 stoploss 270 target 287
Buy Heg cmp 278 stoploss 262 target 300
Technical Fundamental Calls
The shortage of gas due to a decline in a KG D-6 gas production is likely to be filled up by lage LNG imports. There will be no major impact on GAIL gas transmission volume as additional LNG capacities by Petronet LNG
Investment Picks
Future & Options Strategy
Buy CNXIT FUT cmp 7232 stoploss 7104 target 7300
Buy Educomp FUT cmp 513 stoploss 500 target 522
Buy Bharti FUT cmp 344 stoploss 337 target 350
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