NIFTY DAILY OUTLOOK (04-11-2010)

                 We see nifty  opening with gap UP to breach yesterday's high of 6182.5.We are expecting the length of this move to be either of any one of 6215,6290 or 6410.If it is reversing at or lower from 6215 it will be corrective wave  & will retrace back to 5938 over the period of time. Reversal prior to 6290 will indicate it is either impulse or corrective & may or may not come to 5938.Reversal above the 6290 will deny retesting of 5938 & it should be considered strongly bullish sign. However we see it reversing prior to 6290 as high probability. Still  COAL INDIA & FOMC can sprung major surprises.




(1)BUY SBIN  AT 3270  WITH THE STOP OF 3210 FOR THE TARGET OF 3500 OR ABOVE.



(2)BUY GESHIP ABOVE 357 WITH THE STOP OF 350 FOR THE TARGET OF 380OR ABOVE.



3)BUY DCHL AROUND 140 WITH THE STOP OF 135 FOR THE TARGET OF 165 OR ABOVE.


 

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