Nifty at Important level

14-12-2010

Hi,

Wish you all happy earnings for the day.

Yesterday market has bounce back and nifty was closed at 5907. Initially market was down and one time it looks like that it will break down and may move towards 5700 levels. But in afternoon it has recovered smartly and was able to close nearly 50 points up.

Global cues are mixed today morning.

Global Indications:

USA – Dow Jones was up by 18 points where as Nasdaq was meagrely down by 12 points. FTSE and CAC were closed in green. Europe has closed in greens.

Today morning ASIAN markets are trading in narrow range. Nikki is up by 0.08, Hnesang is upo by 68 points, Kospi is up by 5 points.

Singapore Nifty is down by 9 points.

Today’s Call

Yesterday I have given Buy call for Wipro at 450 for a target of 480 in 2-4 week’s time, SL is 420, which still hold good. 

Have a eye on burger paints and hexaware computer. Have a watch on Reliance too, it is very near to break out point and is heading towards 1100 levels. If we see today reliance holds 1040 levels than it will touch 1100 levels within short time.  

Today is very important day for nifty. Nifty initially may move up and than we may see some profit booking at higher range i.e. 5950 to 5980 levels.

Summary is if you want to buy wait for clear indications please!!!!!!!!!!!!.

Please write your suggestions and ideas.

Thanks