Market Outlook and Tips for 8th Sept 2009

On Monday, the 7th September, 2009 the markets opened on a positive note backed by the positive cues from the global markets and continued the upward movement on sustained buying across all the counters.

Further, the strong European markets also lifted the investor confidence and the markets continued to move up.

Realty, Metal, Bank, Consumer Durable, Auto, Tech, PSU and Capital Goods stocks witnessed most of the buying in the days trade.

At the end of the session the Nifty finally closed at 4782.90 gaining 102 points or 2.19 %.

Trading Strategy for 8 Sep, 2009:

The Intraday Support for the market shall be 4735 & 4686 while the market will experience resistance at 4824 & 4865.

The Best Strategy shall be to:

Buy above 4804 with a Stop Loss of 4758

Sell below 4758 with a Stop Loss of 4804

Intraday Tips for 8th September, 2009:

BHARTIARTL : Buy above 422 with a Stop Loss of 417 for targets of 434,439

Or if trades below 409 Short BHARTIARTL SL 416 Targets 397,391

RELCAPITAL : Buy above 924 sl 919 Targets 934,938 Or if trades below 913 Short RELCAPITAL SL 918 Targets 903,899