On Monday we can expect opening in green; but once noon sets in expect profit booking and we could give away initial gains once Euro opens.
Trade with positive Outlook, some upside is still left and the upper resistance seems achievable like 5185 and 5222 in this week.
Intra-day trades can be taken as per levels given below.
Nifty Futures Technical levels for intra-day trade on 24.10.2011
No trade between 5052 and 5080(to avoid Bull v/s Bear trap )
Buy above 5086 with SL of 5050 for targets of 5111-5139-5169
Sell below 5048 with SL of 5062 for targets of 5014-4979-4922
SECTOR TO OUT PERFORMERS
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MINING, STEEL, OIL AND REALITY with AUTO
UNDER PERFORMER
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FMCG, TEXTILE AND PSU
Rain Check on Past calls
1) Bajaj Auto could make a new 52-week high, outlook still +ve accumulate for tgt of 1800++
2) Tata motors before the result season started we had mentioned the boost from Brazilian govt for sale of Nano Cars may take the stock back to 190-200 levels. Today a good opportunity for traders.
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