GOOD MORNING & have a nice DAY WISH U ALL A Happy & profitable trading!
INTRADAY CALLS FOR WEDNESDAY 06.01.2010
BUY ATLANTA LTD 183.05 TG 189 SL 179
BUT THE PHOENIX MILLS LTD 205.45 TGT 212 SL 201
INVESTMENT CALL & DELIVERY CALLS
BPCL Buy Above 645 SL 638 TGT 653
NIFTY LEVELS: NIFTY Res 5316-5348-5387 Sup 5242-5204-5168
Market view today WEDNESDAY 06.01.2010
Market has created a typical candle stick pattern, which could turn to be a blessing or a curse. A blessing if 5230 is not hit and stays above. Rather it should not drop below 5235.With US and EU markets misbehaving slightly for now, be cautious tomorrow. If the unforeseen happens, maybe it will be a signal to throw in the towel. As of now DJI & GSPC is sitting on the fence Irrespective of position on chart says it is better to protect positions below 5230. Above which no worry as of now…. Since market has moved into major trending range. Tomorrow will be the litmus test however, with the bears trying to steal advantage as this is the last stop for the bears before they become bulls and come on board for major moves
Nifty (5278) we seen the process has established 5150 as a crucial support to work with and a target of 5385 in sight’ the market still has 5385 I sight though the market is in a stretched mode and so profit booking is not ruled out…The crucial support on the downside for the Nifty is 5220 and resistance at 5387
BSE Sensex: (17686) the crucial support on the Sensex on the downside is 17530 and resistance at 17887
WORLD MARKETS UPDATE 06.01.2009
Asian MarketsAsian shares trading higher on Wednesday.Nikkei Stock Average 225 up 44.30 points at 10,726.13 .Hang Seng Index up 84.88 points at 22,364.46.KOSPI Index up 0.41 pct at 1,697.50.Shanghai Composite Index up 0.08 pct at 3,284.66.US Markets US Markets ended flat on Tuesday. Dow Jones industrial average down 12 points, down 0.11 percent, to 10,572. The Standard & Poor's 500 index ended up 0.31 percent up 4 points to 1,137. The tech-heavy NASDAQ composite index flat to to 2,309.
European Stocks Ended MixedEuropean Markets ended mixed on Tuesday. Britain’s FTSE 100 index ended up 0.40 percent up 22 points to 5,523 ,Germany's DAX ended down 0.27 percent down 16 points to 6,032,France's CAC 40 ended down 0.03 percent at 4,013.CommoditiesCrude oil was down 15 cents to trade at $81.62 a barrel. Gold settle at $1,119 an ounce.
We wish you To Have A Superb Profitable Trading Day Today!!!
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RAKESH MAKIN
Chugh securities Pvt Ltd
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