Advice for – Thursday, January 15, 2009

 The Indian stock market unfolded as expected and we saw the 9000 mark holding. It was the short covering that drove the market up…looks like we might see some more upside in the days to come but that may be short lived. It will be opportunity to book profits. So book profits and Long term and midterm investors should wait for some time. Intraday can be done but cautiously.


BSE Sensex: (9370)The support level for the Sensex is 9250 and the resistance to the up move is at 9557-9731


NSE Nifty: (2835) the support level for the Nifty is at 2775 and the resistance to the up move is at 2882-2931


Data to watch: Global market, Quarterly results. These data can retreat market direction.

Stocks that can be traded on: Infosys, Cairn, Rnrl, GMRinfra, Maruti, Reliance Industries.


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