Market Outlook for 17th February, 2011

Trading Levels for Nifty Future:

Resistance around 5523 and crossover of 5529, it will move to 5565 – 5580

Support around 5440 and break of 5434, it will fall to 5400 – 5385

Stock Future:

Axis Bank:

Breakout 1300 / Stop 1287 / TGT 1325 – 1345

Bajaj Auto:

Breakout 1342 / Stop 1329 / TGT 1367 – 1385

Jetairways:

Breakout 504 / Stop 496 / TGT 520 – 530

Note:

Breaking  BO / BD level, it can bounce to midpoint between BO / BD and STOP. All stops are very powerful and if its takeout after entry level, then trend change will take place.

Happy Trading

C T Ramesh Raja