Market Outlook and Tips for 19th August 2009

On Tuesday, the 18th August, 2009, the markets rallied strongly after opening flat in the initial morning trade. Both the Investors and traders went in for bargain hunt on the frontline stocks after Monday's sharp fall in the market.

Markets traded in an extremely bullish mood with strong buying seen coming in. The European markets further added to the positive sentiment of the traders. Following have been the stats at the end of the day.

The Nifty finally closed at 4458.90 gaining 71 points or 1.62 %.

For 19th August, the Intra day support for the market shall be 4401 & 4466 while the market will experience resistance at 4506 & 4548.

Trading Tips for 19th Aug, 2009

Buy AXIS BANK above 834 with a Stop Loss of 825 for a Target of 848.

Buy HERO HONDA above 1402 with a Stop Loss of 1380 for a Target of 1428.

Sell HINDALCO below 105 with a Stop Loss of 107 for a Target of 104.

Sell SUZLON below 87 with a Stop Loss of 89 for a Target of 85.