share trading technical analysis market outlook 20 May 09
It was a highly volatile day for the Indian equity markets where the Sensex traded in the zone of 1096 points in just one day. The Sensex touched an intraday low of 13834 and an intraday high of 14930 today. In the morning, with global markets were trading strong Indian markets also opened in a positive zone, but could not sustain its levels and immediately entered the negative zone. Afterwards the strong rally in the banking and real estate sector helped the Sensex touch an intraday high. But, again the profit booking guided the market to southward direction and markets closed almost flat at 14302 (Up 17.82 points) and Nifty closed at 4318.45 (Down 4.70 points). On the sectoral front IT, TECk and Health Care were in negative zone.
We expect the market to be high volatile so small trader away from market
BSE Sensex: The support for the Sensex is 14000-13800 and the resistance to the up move is at 14452-14900
Nifty Technical Trend: the support for the Nifty is at 4320-4150 and the resistance to the up move is at 4400-4650-4775
Call of the Day:
Buy IB Realestate Above Rs.212 Stoplos 201 Target 225
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