10/11/09 - Market cues & calls

Bears Havoc happened in Nifty as mentioned in yesterday's column. we are nearing our target 4965 so can we able to cross it?. Big Boy Reliance not supported yesterday's rally still Nifty managed to take on its own path with Banks particularly SBIN. So as said yesterday small banking stocks zoomed as well. Lets see what will be the trigger for today.

Nifty View ::

Nifty Done Inverse head and shoulder target of 4877 from 4700 massive 177 points. And also still contra target 4965 left. hope It will be Done today. Initially Nifty struggle to cross 4828 which we mentioned yesterday. Bears cant able to hold below 4785.Today Nifty should not break 4873 holding that Bulls will make the day. Nifty failing to hold that will take again to 4810. Nifty likely to open Gap up. Above 4988 You can add longs for 5050 and new high. Time analysis worked perfect From Friday for Long side.

Levels ::

Bearish > 4848 < Bullish

Stocks to watch ::

Central bank
Tech Mahindra
KPIT cummins
Orbit corp

Happy trading !!!!!