Day Trading Daily Technical Analysis for NSE & BSE: Aug 24, 2009

Monday, August 24, 2009

Pre-Market Outlook

Today amidst strong global cues, where Chinese Market has remarkably recovered, we can also see a similar rally in Indian Markets.

Nifty has tough resistance at 4615, 4642 levels, and has a strong support at 4249 and 4400 levels.

We will not be posting any trading calls today. We will see you with Post Market Outlook in the evening.

Happy Trading!
Day Trading Analyst

Analyst Disclosure

In the Recent Past, the correlation between Indian stock market and other stock markets in the world have gone up significantly, as high as 80 or more. While this could be a transient phenomenon, as of now, its effect is paramount on the performance of our markets. Thus, all views are subject to change in case of any major counter-directional swings in those markets. The views expressed here are solely the product of a technical study done on the basis of the market performance as at the end of last closing. I don't have any trading position in these stocks at the time of issuing these calls. Day Trading Analyst gives an unbiased and competent picture of trading and investment opportunities and it does that to the best of its abilities. However, prices can fluctuate up as well as down due to number of factors, all of which are impossible for anyone to foresee. Readers using the information are solely responsible for their action .information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness.

Monday, August 24, 2009

Pre-Market Outlook

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