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Market Outlook 26 Feb 2009 and Calls to watch out |
dhawal14
White Belt
Joined: 01 Oct 2007
Posts: 1
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Post: #1  Posted: Thu Feb 26, 2009 9:53 am Post subject: Market Outlook 26 Feb 2009 and Calls to watch out |
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Nifty Daily Chart Analysis (2762)
Nifty EOD chart has formed “BULLISH MORNING STAR” pattern which suggest strong Bullish reversal in the market. One thing more to note here is that Daily chart has formed “Double Top” at 2789 and once Nifty crosses this level then we may see good bullish break out on chart up to 2815 to 2850 level. Today is last day of Expiry of February derivative series so day trader should remain cautious and avoid spike on either side. Daily RSI is near edge of positive cross over, Stochastic exhibiting positive divergence where as MACD is still in negative territory.
Support:-2746/2733/2720/2695
Resistance:- 2778/2789/2815/2832/2851
Nalco (207)
Buy above 210 Stop Loss 206 Target 218
(If closes above 218 then near term outlook for the stock will be very Bullish and it may touch 238 in coming days.)
ONGC(696)
Buy above 700 Stop Loss 686 Target 718-725
ICICI Bank (341)
Sell below 337 Stop Loss 348 Target 325-318 |
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