Stock Market Technical Views For Tomorrow:06-Oct

After much of ups and down, the market witnessed choppy trade today and closed with moderate losses in the end. Today it was a day of consolidation and it is expected that the trend of consolidation may continue tomorrow. On the basis of daily reports and charts we are witnessing a consolidation/correction of the previous rise. However the intermediate trend is up, and market breadth looks positive. On the downside, the Fibonacci retracement levels of 20391-20290-20189 / 6124-6094-6063 may act as support for the day. On the upside, resistance is at 20560-20707 / 6,189-6222 levels. Any move beyond the high of the shooting star, 20707 / 6222 level, would resume the up-trend

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Intraday Stock Tips For Tomorrow

Intraday Tips For Tues(05th, Oct'10)

Tulip Telecom Ltd.
Recommendation : Buy ABOVE 190
CMP : 190.20  
Target : 196-203
Stoploss : 187

Hanung Toys & Textiles Ltd.
Recommendation : Buy @ 343-344
CMP : 345.40
Target : 352-360
Stoploss : 340

IFCI Ltd.
Recommendation : Buy @ 67-68
CMP : 68.05
Target : 372-77
Stoploss : 65.50

Sesa Goa Ltd.
Recommendation : Buy on dips
CMP : 360.95  
Target : 366-374.50
Stoploss : 352

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Stock Market For Tomorrow (05-Oct)

Nifty opened on a positive note at 6,144.70 levels and showed good strength at the opening and Nifty made high at 6,222.10 levels. However, profit booking was seen from day's high and Nifty closed on a flat note at 6,159.45 levels with 16.05 points gains.

On an Intraday basis, the trend deciding level is 6,150. If Nifty shows strength above 6,150 levels, then rally to 6,200/6,250 levels may be seen. If Nifty does not show strength above 6,150 levels, then selling pressure till 6,100/6,050/6,000 levels may also be seen.

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Best Stock Tips And Recommendations

Punj Lloyd Ltd

Recommendation : Buy
Rs. 131.40 4.80 (3.79%)
An investor can buy the stock as a contrarian bet. The stock prices have discounted the worst. Things are going to look better, taking note of what the company’s management has said.

Bartronics India Ltd

Recommendation : Buy
Rs. 108.95 0.40 (0.37%)
The company is into a new economy business and sooner or later the business momentum will pick up. The valuations are reasonable, trading close to its book value and also 6 times trailing PE multiple on a consolidated value. It has a decent order book and if it manages to post good quarterly numbers the stock could get re-rated.

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Market Prediction For Monday (04-Oct)

Nifty showed an immense momentum strength for 5th consecutive week with positive market breadth. Nifty's long term trend along with short term trend is up. Bulls are in control at the moment. However, Nifty has some resistance in 6,200-6,350 levels and some profit booking may be seen from these levels. Therefore traders should be cautious. For trading during the coming sessions, trend deciding level is 6,150 If Nifty shows strength above 6,150 levels then we may see rally to 6,200/6,250/6,300/6,350 levels. If Nifty doesn't sustain above 6,150 levels then decline to 6,050/6,000/5,950/5,900 may also be seen.

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