Market Outlook for 11th May, 2010

No blah blah from me about market. Charts speak for themselves  about their moves and this was well demonstrated on the first day of this week with a huge upmove. That’s why I keep uploading charts in website as “ A Picture is worth a thousand words”

I know what a trader wants.. and I give clear entry with stop in place and probable Targets. No Hidden disclaimer from me like… sustaining above or below a level….

I write with strong conviction of what my analysis says and will not hesistate to accept as failure if market proves me  wrong.

Lets march ahead ..

Nifty Future:

Resistance around 5218 and crossover of 5225 could take to 5275.

Support around 5140 and break of 5130 will lead to 5100.

Stock Future:

Buy HDFC Bank around 1910 with SL at 1889. TGT 1960 – 1980

Buy Sesa Goa around 406 with SL at 403. TGT 425 – 435

Swing call: ( Future)

Buy Orient Bank above 355 with SL at 335. TGT  395 – 410 – 430

Note:

All SLs mentioned above are trend reversals and if  takenout, reversal trade can be considered.

Best wishes

Happy Trading

C T Ramesh Raja