Market Outlook and Tips for 27th Aug 2009

On Wednesday, the 26th August, 2009, the markets spotted a positive gap up opening but soon turned volatile and traded extremely choppy throughout the day ahead of the FnO (Futures and Options) expiry. The Nifty faced stiff resistance exactly at 4698 level.

However, it traded with a positive bias and managed to end the day on a positive note.

Nifty finally closed at 4680.85 gaining 21 points or 0.46 % at the close of the session.

Trading Strategy for 27th Aug, 2009:

Buy AMBUJA CEM Above 99 with a Stop Loss of 97 for a target of 103.
Buy IDEA Above 81 with a Stop Loss of 79 for a target 83.
Sell HDFC BANK Below 2500 with a Stop Loss of 2525 for a Target of 2446.
Sell MARUTI below 1398 with a Stop Loss of 1413 for a target of 1371.