Market Outlook and Tips for 3rd Sep 2009

On Wednesday, the 02nd September, 2009, the markets opened on the weaker side backed by the negative cues received from the global markets but soon after that, buying came in as the investor interest arose at the lower levels which helped the markets to recover from the opening losses and surged into the positive territory. Soon after this markets traded in an extreme choppy fashion for the entire session hovering into the negative and positive territory from time to time.

Weak European & Asian markets also added to the negative sentiments and dragged down the markets further and at the end of the day managed to recover from the earlier day's lows and ended in the marginally negative side.

Selling pressure was witnessed among the Realty, Capital Goods, Power and Auto stocks.

At the end of the session the Nifty finally closed at 4608.35 losing 17 points or 0.37 %

Market Outlook for 3rd Sep, 2009:

The Intraday Support for the market shall be 4560 & 4525 while the market will experience resistance at 4659 & 4700.

Intraday Trading Tips for 3rd Sep, 2009:

Buy NTPC above 207 with a Stop Loss of 205 for a target of 211.

Buy AMBUJACEM above 98 with a Stop Loss of 97.50 for a target of 101.

Sell NALCO below 328 with a Stop Loss of 333 for a target of 323.

Sell MARUTI below 1498 with a Stop Loss of 1517 for target of 1471.

Intraday Trading Tips for 2nd Sep, 2009:

SUZLON Buy Above 95 SL 93 Target 97 Target Achieved
BHEL Sell Below 2255 SL 2280 Target 2220 Target Achieved