Market Outlook and Tips for 24 Aug 2009

On Friday, 21st August, 2009, the markets opened weak on negative cues from Asian markets but strong buying came in from Domestic Funds and FIIs at lower levels which pulled the markets sharply up to end on a strong note.

Nifty finally closed at 4528.80 gaining 75 points or 1.69 % approximately.

Market Outlook for 24th August 2009:

Intraday Support for the market shall be 4482 & 4438 while the market will experience resistance at 4574 & 4617.

Trading Tips for 24th Aug, 2009:

Buy POWER GRID Above 107 with a Stop Loss of 105 for a target of 111.

Buy TATASTEEL Above 446 with a Stop Loss of 443 for a target of 45.

Sell AMBUJA CEMENT Below 97 with a Stop Loss of 99 for a Target of 95.

Sell HDFC BANK Below 1457 with a Stop Loss of 1472 for a Target of 1435.