Market Outlook 28 April 2010 and Calls

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Nifty (5308.35)


After five day of up days (Green close) finally nifty closed in red with “Small Black Candle” pattern suggests uncertainty at higher levels. Daily momentum indicators are showing tiredness especially stochastic is showing weakness after appearing in over bought zone. Strong up move is possible only above demand line breakout adjoining from early February 2010 which is placed at 5355 level. Immediate major support placed at 5270 levels. Over all scenario is cautious and capital preservation is more advisable. 



Positive Stocks

Buy Cairn (310) above 312 Sl 306 Tgt 325
Buy BRFL (219) above 220 Sl 216 Tgt 231
Buy IVRCL (184) above 186 Sl 181 Tgt 194 -197
Buy SCI (163) above 164 Sl 161 Tgt 171
Buy LITL (62.40) above 63.40 Sl 60.50 Tgt 69
Buy Nagarjuna Fertiliser(33) above 33.25 Sl 31.25 Tgt 37
Buy Omaxe (97) above 98 Sl 95 Tgt 104

Negative Stocks

Sell Grasim (2821) below 2816 Sl 2830 Tgt 2785
Sell BHEL (2477) belwo 2470 Sl 2485 Tgt 2440
Sell ZEEL (306) belwo 304 Sl 309 Tgt 290



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