NIFTY DAILY OUTLOOK SEPT 14, 2010

On Monday, market opened gap up on strong IIP numbers and global
clues gave good support to the market and buying continued thru out
the day. However banking sector remain strong, during second half of
the session good buying was seen in realty sector.

For the day, the level of 5730 and 5715 may act as a major support
for the market and the level of 5785 and 5800 may act as a major
hurdle. Short / medium term trader can hold short position in nifty
with stop loss of three consecutive close above 5680. Day one close
above 5680

The short term trend will turn negative below the level of 5640.

Day trader can go long on nifty above 5770 with stop loss 5750 for
target 5785/5800 and can go short below 5745 with stop loss 5765
for target 5730 /5715.

INDEX RANGE

NIFTY: 5760
Range: 5730-5785
Resistance: 5770-5785-5800
Support: 5745-5730-5715

BANK NIFTY: 11872.8
Range: 11580-12125
Resistance: 11910-12010-12125
Support: 11790-11680-11580

Short term: Up (5640)
Medium term: UP (5470)
Long term: Up (5180)

All Above Spot Levels

OM SHRI GANESHAYA NAMAH