Market Outlook and Tips for 15th Sept,09

On Monday, the 14th September, the markets opened on a weak note and traded in a range bound manner with extreme volatility and choppiness as a result of weak confidence among the bulls after the opening with continuous phases of buying and selling in the market further worsened by the selling pressure.

During the whole session, the NIFTY kept hovering above and below the 4800 mark, with support seen at 4787 mark.

The NIFTY traded with extreme volatility above the 4800 levels, followed by repeated rounds of buying and profit booking witnessed at every dip and upside, and kept trading in a directionless manner due to lack of confidence among the traders and cautious approach on the part of investors.

The Nifty finally closed at 4808.60 losing 21 points or 0.43 %.

Market Outlook for 15th Sept, 2009:
The Intraday Support for the market shall be 4762 & 4718 while the market will experience resistance at 4849 & 4889.

Intraday Tips for 15th Sept, 2009:

Buy NIFTYabove 4834 with a Stop Loss of 4784

Sell NIFTY below 4784 with a Stop Loss of 4834