We expect the market to correct a bit before moving up.The correction may to take to level of 5130-5140 levels.Below that it can move down to 5100 levels.
Wait for taking long position since market is in consolidation mode.
Resistant is placed at yesterday's high at 5215-5220 levels move above this will take to 5250-5260
levels.
Support is placed at yesterday's low(5176) below that it can move down to 5130-5140 and ultimately to the target of 5100 levels.
Stock to watch
ABIRLANOVA -BEARISH VIEW
TATAMOTORS -PROFIT BOOKING EXPECTED
WIPRO - PROFIT BOOKING
JPASSOCIATE-BULLISH VIEW
Wednesday, December 30, 2009
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