Monday 6 October 2008

Market outlook and day trading ideas for 7th Oct.

Yesterday US markets cracked badly. Dow has broken its 5 digit mark almost after 2004. It is within 10K now.
Yesterday RBI cut CRR by 50 basis points to increase liquidity in the system. Although RBI stated it as a temporary measure, it is an aggressive timely measure by Reserve Bank of India. Interest rate sensitive stocks will react positively to this news. This would be effectiable from 11 Oct.Though this a good news for the Indian markets we could have rallied today but US markets cracked.
I think we may have a flat to negative opening.
It is advisable to trade minimal.

Intraday Ideas.
Austral Coke & Projects.
Buy above 197 for targets of 205 , 209 & 213.
Sell below 184 for targets of 179 , 175 & 171.
Punj Llyod
Buy above 247.30 for targets of 253 , 256.
Sell below 235 for targets of 230 & 227.50 .
Larsen & Tubro.
Buy above 1100 for targets of 1131 & 1152.
Sell below 1051 for targets of 1029 & 1010.

Source: indianmoneyplus

Posted by Harsh at 20:42

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.