16 November- 2011-Indian Market outlook:-

Indian equities are expected to get a  opening DOWN on back of negative global cues and remain volatile due in latter session.
Technically nifty as an intraday resistance at 5099-5069- levels and Support is seen at 5042- 5001 levels.
The SGX nifty is trading down by 30 points at 5036
Curcial support is seen at 4989


4901-4948-4992-5057 -5128-5165-5240 - 5301- 5324-5372 

Market may open with a downside gap and is likely to trade sideways. Selective buying can be seen in the later part of the day.

SENSEX (16882)

Sensex has resistance at 17072 and 17125. Support at 16825, 16752, 16745 and 16556.

NIFTY (5068)

Resistance at 5083 and 5099. Support at 5040, 5020, 5000 and 4991.

RECOMMENDATIONS

1)     MAX INDIA (176.6)

   Support at 172 below 168. Resistance at 179 above 181 and 190. (Buy for delivery at lower levels)

2)     GEMINI COMMUNICATIONS (22.2)

Support at 20.8 below 19.1. Resistance at 22.65 above 24 and 26. (Buy at declines)

3)     JET AIRWAYS (238.7)

Resistance at 243 and 248 (Sell at higher). Support at 236 below it may test 232 and 228.

4)  HEXAWARE (84.7)

  Support at 82.2 below 79.1. Resistance at 86 above 88 or even 93 in coming days. (Buy at declines)

5)     RELIANCE COMMUNICATION (77.33)

   Resistance is there at 78 above 79.9. Support at 76.1 below 74.9. (Sell at higher)  

DERIVATIVE STRATEGIES

  

   SELL HDFC BANK FUTURES AROUND 478 LEVELS

  

  SELL CAIRN FUTURES AROUND 314 LEVELS