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Daily Newsletter from crnindia.com

Daily Newsletter from crnindia.com

Outlook for 16th December 2009

Posted: 15 Dec 2009 04:53 AM PST

Daily trend of the market is up.
With the Dollar index going sharpely up, today the market has broken its sideways zone and has closed below its support levels. It seems that for the time being the uncertainty is over and the market has come in downtrend. So the readers who had bought Nifty on 26th November may quit their longs latest by 10.15 am on 16th December and then stay away till market does not come in uptrend
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Percentage above support
Percentage of stocks above support are still above 50%, but as market is volatile so it is better not to invest fresh in deliveries and remain away from the market till some more clarity comes in the market
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Strong Futures
This is list of 10 Strong Futures: Orchid Chem, Ranbaxy, Bajaj Auto, Cipla, BEL, GTL Infra, ACC, Hotel Leela, Sail Ltd & Hind Zinc.
Weak Futures
This is the list of 10 Weak Futures: Orient Bank, Tata Comm, Andhra Bank, IDFC, Allahabad Bank, Aban Off shore, IOB, Nagarjuna Const, Ivrcl Infra & Corporation Bank.
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