Sep 1, 2009

Market Outlook and Tips for 01st Sep 2009

On Monday, the 31st of August, 2009, the markets opened with gap down opening backed by the negative cues from the Asian Markets and the selling pressure due to the negative sentiments in the market further dragged the markets down.

The Nifty experienced support at 4647 and smartly managed to recover from day's lows to end the day marginally above the met days lows.

Nifty finally closed at 4662 losing 70 points or 1.48 % approx.

Intraday Support for the market shall be 4618 & 4574 while the market will experience resistance at 4712 & 4753.

Trading Strategy for 1 Sep, 2009:

Buy NTPC above 212 with a Stop Loss of 209 for a target of 217.

Buy TATA STEEL above 426 with a Stop Loss of 421 for target of 435.

Sell IDEA below 81 with a Stop Loss of 82 for a target of 78.

Sell BPCL below 505 with a Stop Loss of 510 for a target of 496.

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September 01, 2009  

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