Stock Market Outlook For 2nd Sep '11

The bulls gained control of the Dalal Street whole the day of trade, which resulted in the Nifty closing just above the 5000 level. As the new contract has been strated in this month, market has taken again a high jump as we predicted. The 30-share BSE Sensex surged 260.42 points, to close at 16,676.75. Meanwhile, the 50-share NSE Nifty jumped 81.40 points, to end at 5,001.00 after hitting an intra-day high of 5,030.30. Market remain in the same position tomorrow also!!

Technical Levels in Nifty-50 for Tomorrow:

Resistance  :  R1  :  5090,  R2  :  5160.

Support      :  S1   :  4920,  S2   :  4850.

Share Tips For Today

Oil And Natural Gas Corporation Ltd.

Sell ONGC below 276,

Target: 273-270, Stoploss: 281.

Bharat Heavy Electricals Ltd.

Buy BHEL above 1765,

Target: 1775-1788, Stoploss: 1753.

Axis Bank Ltd.

Buy Axis Bank above 1086,

Target: 1096-1105, Stoploss: 1073.

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Market Trend For Tomorrow : 23rd Aug '11

After the long period of down trend Now market Moves to upside, After a long bearish session Market has shown its strength and today Sensex closed at 16,341.70 with the +200.03 up points or up by 1.24%. And the Nifty closed at 4,898.80 having +53.15 positive points or 1.10% up. Tomorrow Market may show its strength again.

In Nifty technically the market is in a typically sideways zone with 4800 as a strong support zone to work with and 4980 as a strong resistance zone to work with.It is looking bullish in the coming trading session if it manages to trade above the Resistance level of 4980 else below the Support level of 4800 it would be down trend.

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Trading Strategies Before start trade

Before starting the trade, it is the duty of every trader to know the hidden points

1. Risk/Reward ratio - Profit should be atleast 10 points more than SL
Reason : If your provider gives 20 pts SL and 20 pts trgt, then in case of loss ur loss is 24 (with brokerage) and in case of profit it will be 16 (with brokerage).

2. Never trade without SL.

3. Trade intraday (strictly to be followed by small traders)

4. Never try to recover the loss in the same day

5. The less you trade, The more you earn

6. Do not change the trade quantity frequently. Atleast, trade constant quantity for 1 month

7. No. of targets - No. of targets should be only and only 2
Reason : If your provider gives 3 or 4 targets you do not know where to book though "Trial SL method" is recommended (sites will be updated with highest achieved targets but it is never possible to predict the high)

8. Price Deviation - Price should not be more than 3 pts difference while you get the call

9. Accuracy must be at least 70%
These 4 points looks to be small but its unfortunate to reveal that these 4 constitute more than 50% of your profits

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