STOCK MARKET THIS WEEK [31/08/09 – 04/09/09]
Only global cues led the market this week. To my knowledge there was no any big negative issue last week in domestic front. It was a tight range trade. FII’s remained net sellers through the week for 2000-odd crore. I feel through out the week there was a tug war between 4580 levels and 4620 levels and only on Friday 4620 levels won the war. In this week, for three days, nifty crossed the 4700 levels but unable to close above that level. By and large it was a tight range trade in negative side.
In DOW JONES too it was a tight range trade in negative side. Only on Friday it managed to close just below 9500 levels.
STOCK MARKET TREND FOR COME WEEK [07/09/09 – 11/09/09]
I feel this week too only global cues will lead the market. Our GDP data for this quarter was above the street expectation, drought measures were in full swing and monsoon too seems to be turning good. With these positives, our market must trade in positive range but global cues stem nifty’s further raise. FII’s remained net sellers last, so I feel they me buyers for come week and that too depend on global cues. This week, to my knowledge, would nifty able to close above 4828 levels, and then we may see our market trading around 5100 levels surly. However all depends on global cues. Technically I expect a break out this week, if I am correct then nifty may touch 5000 levels this week again all depend on global cues.
For come week would DOW JONES able to stay above and close 9500 levels then it may touch 10000 levels easily, if not we may see some correction. Consequently we may have the impact. Let’s see what happens come week.
STOCK MARKET TREND FOR MONDAY
I suggest visitors to watch out for global cues for intraday trade. As nifty closed in a positive range on Friday and would global cues are positive, then we may see up on Monday.
FREE INTRADAY TRADING TIPS FOR NIFTY
Technically in the price chart I expect an up move on Monday. I suggest visitors to watch global cues and buy only above 4734 levels with strict stop loss 4703.
NFITY
BUY ABOVE -4734
TARGET 1 -4770
TARGET 2 -4828
TARGET 3 -4870
TARGET 4 -4910
STOP LOSS -4703
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