26/10/09 - Market cues & calls

Friday we done our small +ve div target of 5045 and nifty got resisted around 5050 for second time with the help of RELIANCE with hardys news.

So whats for the week? Asian markets Open strong despite of Dow's Friday fall. A gap Down open is expected in Indian markets. Expiry week will always been volatile for past 2 - 3 months.RBI monetary policy will add weightage to the markets this week and investor community will watch it keenly. If Nifty open a gap down just try 5000 CE for this expiry. I strongly feel 5150 0nce again either it may be on expiry day. Safe traders can wait and watch still 4900 or 5200 breaks on closing basis its No trade zone. Have a eye on ACC future it formed beautiful bullish pattern on charts. Reliance is now a short @ rise formation on hourly charts.

Levels ::

Bearish > 5021 < Bullish

Nifty fut Supp @ 4988 :: Res @ 5053

Stocks to watch ::

Acc
Pirhealth
Goa carbon
Sel Manufacruing

Happy Trading !!!!!!