Daily Newsletter from crnindia.com

Daily Newsletter from crnindia.com

Outlook for 16th October 2009

Posted: 15 Oct 2009 07:12 AM PDT

Watch our Analyst (Neera Jain) discuss Nifty and various stocks at CNBC Awaaz on 16th October between 2.30 pm till 3.00 on programme "Vayda Se Fayda
Daily trend of the market is up.
As the market is overbought so it did take some correction near its resistance zone of 5100- 5150 but it seems that the festive sentiment may break the resistance and take the market further up. So as the daily trend is still up, the readers who are holding their longs in Nifty (bought on 25th August) may go on holding the long positions till the trend remains in uptrend.
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Percentage above support
Percentage of stocks above support is above 50% , so the readers who have invested in deliveries may go on holding them till the percentage of stocks above support remains more than 50%. __________________________________________________________________
Strong Futures
This is list of 10 Strong Futures: Sesa Goa, DCHL, Yes Bank, Bank Of India, Jindal Steel, PTC, Canara Bank, Dena Bank, Nagarjuna Const & Sun TV.
Weak Futures
This is the list of 10 Weak Futures: RCom, Bharti Airtel, Idea, MTNL, Grasim, TV-18, India Cement, Ambuja Cement, Hind Petro & HCL Tech
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