17 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 5099-5059- levels and Support is seen at 4995- 4969 levels.
The SGX nifty is trading down by 67 points at 5012
Curcial support is seen at 4904
FII's were net sell rs 489 cr in case market  (16-11-11)

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 morning part of the day.

SENSEX (16775)

Sensex has resistance at 16872,16998 and 17015. Support at 16639 and 16535.

NIFTY (5030)

Resistance at 5060, 5070 and 5100 . Support at 4996 and 4971.

RECOMMENDATIONS

1)       WIPRO (374.15)

   Support at 372 below it may test 368 and 362. Resistance at 380 and 384. (Sell at higher)

2)       SUNPHARMA (489.40)

Support at 485 below it may test 481 and more. Resistance at 493 and 498. (Sell at higher)

3)       SHOPPER STOP (357.30)

Resistance at 360 above 365 and ,more. Support at 353 and 349 . (Buy at declines)

4)  PFC (168.35)

  Resistance is there at 169.50 above it may test 172 and 175. Support at 165 and 162.

5)       HINDALCO (123.40)

   Resistance is there at 125 and 128. Support at 122.50 below it may test 118. (Sell at higher)  

DERIVATIVE STRATEGIES

    SELL INFY FUTURES AROUND 2795 LEVELS

     

   SELL HDFC BANK FUTURES AROUND 469LEVELS

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