Market Outlook 11th Jan 2010

On 6th January, we mentioned here in this column that Nifty on 5th Jan closed forming solitary star doji which is a sign of weakness and it was confirmed by closing of 6th Jan.

Nifty is well placed for some more profit booking and weakness is expected to continue in this zone as well.

Overall until Nifty consolidate in this zone higher levels are not possible.

Nifty Pivot :  5250
Support
5235	5214	5197
Resistance
5270	5291	5314

1. Hindustan Construction Company
Buy HCC above 157 SL 151.50 T 163-166.
2.  IRB Infrastructures
Buy IRB above 262 SL 252 T 270-274.
3. Usha Martin
Buy Ushamart above 91.50 SL 88.20 T 96-98.
4. Satyam Computers Ltd.
Buy Satyamcomp above 112 SL 107 T 120-124.