26/02/2010 - Market cues & calls

Nifty expired at 4860 as said yesterday and closed flat ahead of general budget today. Opened +ve and traded flat for the whole day and recovered @ end. Bank nifty and IT index did well, while metal index went down as dollar index hits new high. Economic panel hopes to achieve a high 9% growth in 2011-2012 and asserts that the country is on its way to becoming the world’s fastest growing economy in another four years time. Infra stocks went well yesterday due to good data on infrastructure sector output. LT in particular zoomed. Mostly we will find a key for market move from here. Today it will be more fundamental rather than technical. Traders are advised to stay caution today, let the markets settle somewhere.


Technically Nifty spot closing above 4935 will lead a good rally this time and close below 4780 will lead to bad fall. Nifty spot forms many top @ 4880 and many bottom @ 4840 with 40 point tight range.If nifty moves on higher side today LT will make a stunning a move.For me technically it suggest we going to have a good budget. So hedge your position and trade firm.

26/2/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 4839 AND 4891

Halonix

buy @ cmp 85
stop loss 78
target 96
5 days

Tvs motor

buy @ cmp 66
stop loss 58
target 72
3,4 days

Happy trading !!!!!!!

Jay