FOR THE WEEK (25-29, Oct 2010)

FOR THE WEEK: The immediate resistance levels for the Sensex and Nifty are at 20250-20350-20450 and 6150-6200-6250, respectively, while the support level is at 20050-19850-19700 and 6050-6000-5950. Any move close to the resistance levels can be used to book partial profits and initiate fresh positional long positions only if the Sensex manages to sustain above its resistance levels. However, considering the global volatility, maintain strict stop losses for all the long positions.

FOR THE DAY (25-10-2010)

FOR THE DAY: Domestic markets are likely to open on a positive note, taking cues from the positive US and mixed Asian indices. Traders are advised to trade long in Nifty if it holds above 6100 levels, else from 6070 with a stop loss at 6050 levels, targeting higher levels of 6130 and 6150.

Today’s Levels (25-10-2010)

(Last Close : Sensex 20166 : Nifty Spot 6066)
Today’s Levels
Trade long if Sensex sustains above 20166 (Nifty 6066)
[Upside targets/resistances at 20224(6075)/20340(6115) or higher]
Trade short if Sensex fails to sustain above 20224 (Nifty 6075)
[Downside targets/supports at 20166(6066)/20088(6041) or lower]