MARKET UPDATE FOR 15TH DEC 2010

THERE HAS BEEN 200 POINTS RISE AFTER THE FALL ON THURSDAY  9TH DECEMBER AND LOWS MADE ON FRIDAY 10TH DECEMBER AROUND 5740. MARKET IS LIKELY TO CONSOLIDATE IN THE BROAD RANGE OF 5850-5990


IN DECEMBER SERIES MARKET IS POISED TO TEST 6070-6120 FIRST AND THEN 6240 IF CROSSES ABOVE 6120.


THOUGH IT IS TOUGH TO PREDICT THE MARKET BUT DECEMBER  SHOULD BE CAUTIOUSLY BULLISH AFTER 16TH DEC TAKING CUES FROM GLOBAL MARKETS.


TODAY "MOIL" WILL BE LISTED WHICH MAY OPEN AROUND 500-520. IT SEEMS THE STOCK IS OVER PRICED BUT MAY RISE TO 500 BUT AS FAR AS MY VIEW IS CONCERNED, ITS BETTER TO AVOID  LONG AND/OR SHORT ON INTRA-DAY BASIS.


NIFTY RANGE SHALL BE 5870-5990 AND MARKET MAY RISE AT THE END OF THE DAY, IF FAILS TO SUSTAIN ABOVE 5920-5940.


ONE SHOULD BE BUYER (FOR DELIVERY)  IN THE MARKET IN LARGE CAPS TATASTEEL, RELIANCE ETC &  SELECT MIDCAPS LIKE INGERSOLLRAND, THERMAX  ETC ON ANY DIP


NO CALLS FOR THE DAY IN ADVANCE.


NEXT UPDATE AT 12 NOON.


Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.

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