28/10/09 - Market cues & calls


Nifty opened Gap Down yesterday and traded flat to positive and cant able to sustain 4950 when RBI policy came out it has no clue to go up and also broken the range 4900 and closed below that. Bank nifty,realty,steel plunged hard yesterday. SBIN and ICICI are mega losers yesterday. lets see where we going to expire tomorrow.

Nifty view ::

Nifty cant able to hold the 4950 mark again Bears taking the charge on all higher levels and broken the 4900 mark where the gate opened for 4750. Close below 5005 will give 4830 which I mentioned last week came where it took some support, But as we are near expiry I thought that could not happen still it came.Today I feel sell off @ first recovery from second half where markets will expire on positive, still Stop loss rules. Below 4807 Nifty will reach 4732, Broadly 4900 break is the way for 4400 with some bounces. So 4732 is the level of Investor to watch out and accumulate some good stocks. Above 4845 nifty can do 4880 and 4900. have a eye on 4921 if crossed with vols then we can expect a solid expiry run.Daily charts are Oversold so a bounce in due . Safe traders can skip the market upto expiry. I feel solid bounce back on second half today where we will close the week green.

Levels ::

Nifty fut supp @ 4807 :: res @ 4886

Bearish > 4896 < Bullish

Stocks to watch ::

ptc
Zylog

Happy trading !!!!!!!