Morning Call for 20th May 2010

Foreign buying and local funds striving hard to provide breather for buyers, but wasn’t enough to gain investor’s confidence. Investors not feeling comfortable with the current economic situation, it is required to take them into confidence for in coming budget and especially on CVT and CGT issues.

Learn how to secure your investment by TRADING ON LEVELS


Market Expectation:
Remember Folks told you, don’t get excited, Bears still roaming around. And this happened right from the beginning of the session. Some pull back witnessed, now it is recommended to enter in selective scrip by targeting the prices on their precise levels, momentarily buying on levels will get you high and secured gains on your investment.

Daily traders who like to go with long position must analyze the market before getting in, if market trades around and above 10,070 from the beginning of the session that may give opportunity to enter for short term returns. (Intraday only) The red circled levels are crucial for market; breaking these levels may slide further down with the sharp decline.

9,889 is good support to enter with the long entries but traders must place stop loss below the same level. Market is offering some daring entries as it was earlier indicated to analyze the blue chip companies and their current discounted price. (Focus on target buying) Under current scenario it is recommended to focus on short term gains trail by the market trend.


Daily Candle
Open 10,067
High 10,096
Low 9,939
Close 10,050
Total Move 157
Lost 32.00
% Lost 0.32%


Updated Levels
10,400
10,341
10,260
10,202
10,164
10,123 – 10,101
10,070
10,040
10,000
9,956
9,889
9,835 – 9,810
9,770



Disclaimer:
This commentary, key levels and views are not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. We accept no liability whatsoever for any loss arising from any use of these levels. However the author DOES NOT GUARANTEES the accuracy of information provided on this report and is NOT RESPONSIBLE FOR ANY ERRORS AND/OR OMISSIONS.