Market Outlook and Tips for 7th Sept 2009

On Friday, the 4th September, the markets opened on a positive note backed by the mixed cues from the global markets but soon volatile the situation turned volatile until the buying came in at the lower levels which helped the markets to sharply surge up.

Further wirh the strong opening of the European markets investor sentiments got boosted up and strong buying came into the markets during the mid session.

The strong buying continued mainly across the Auto, Metal, Oil & Gas and Capital Goods stocks.

At the end of the session, the Nifty finally closed at 4680.40 gaining 87 points or 1.89 %.

Market Outlook for 7th Sept, 2009:

The Intraday Support for Nifty shall be 4634 & 4580 while the market will experience resistance at 4724 & 4760.

Trading Strategy:-

Buy NIFTY above 4705 with a Stop Loss of 4658
Sell below 4655 with a Stop Loss of 4707.